Business, 10.03.2020 09:31 labrandonanderson00

A reversing entry is made when a company sustains a loss in one period and reverses the effect with a profit in the next period. reverses entries that were made in error. is made when a business disposes of an asset it previously purchased. is the exact opposite of an adjusting entry made in a previous period.

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A reversing entry is made when a company sustains a loss in one period and reverses the effect with...