In the general journal, reversing entries are dated as of:
the last day of the old fiscal period
the first day of the new fiscal period
any day during the month of the new fiscal period
any time before the end of the fiscal period
Reversing entries are made on the first day of an accounting period in order to remove certain adjusting entries made in the previous accounting period. [ [ Reversing entries are used in order to avoid the double counting of revenues or expenses and to allow for the efficient processing of documents. Reversing entries are most often used with accrual-type adjusting entries. ] ]
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