In the general journal, reversing entries are dated as of

Question

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Reversing entries are typically dated as of the first day of the new fiscal period. This is because they are designed to reverse certain accruals or deferrals made in the previous period, in order to prevent the same transactions from being recorded twice. By dating the reversing entries as of the first day of the new period, the accountant ensures that the entries will be recorded before any new activity takes place in the new period.

In the General Journal, Reversing Entries Are Dated as of