Reversing entries are not complicated! The why behind reversing entries can be a little challenging to understand, however. This walk-through helps explain why reversing entries work and why we do them by analyzing an interest payment scenario.
To follow along, please visit our reversing entries page of our website: https://tlctutoringcompany.com/reversing-entries/
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Need to review closing entries?
Two-entry system (Sole proprietorship): https://www.youtube.com/watch?v=5ET0reipRNY
Four-entry system (Sole proprietorship): https://www.youtube.com/watch?v=IIyl6Ster1U&t=181s
Two-entry AND Four-entry system (Corporation): https://www.youtube.com/watch?v=POTXfbbtUdw
Thank you so much for all of your support! Happy Studying!
