What does mean when accounts where reversed

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Accrued liabilities as of December 31, 2017 were as follows:

Accrued payroll P 48,000

Accrued interest payable 26,667

Dividends payable 160,000

Accrued royalties payable 39,000

The accrued payroll, Accrued interest payable, and accrued royalties payable accounts were reversed on January 1, 2018.

Problem 1: What does it mean when accounts where reversed?

Reference no: EM132754941

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