FUNDAMENTAL ACCT PRIN TEXT+CONNECT CODE
FUNDAMENTAL ACCT PRIN TEXT+CONNECT CODE
15th Edition
ISBN: 9781265564483
Author: Wild
Publisher: MCG
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Chapter 4, Problem 12QS
To determine

INTRODUCTION A reversing entry is an optional journal entry that is recorded at the beginning of an accounting period to undo the prior period’s adjusting entries. In other words, these entries cancel out or reverse the adjusting journal entries recorded at the end of the prior accounting period.

TO CALCULATE

  1. Reversing entry for the adjusting entry made on 31/12/2014.
  2. Cash receipt entry as on 16 January, 2015.

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FUNDAMENTAL ACCT PRIN TEXT+CONNECT CODE

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