What are reversing entries and why are they required

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What are reversing entries and why are they required? What would happen if reversing entries were not made? What transactions might require reversing entries? What transactions might not require reversing entries?

Reference no: EM13253358

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What are reversing entries and why are they required : What are reversing entries and why are they required? What would happen if reversing entries were not made? What transactions might require reversing entries?
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