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What is Journal categories ? and what are reversal methods ?

Answer Posted / mstapps

General ledger uses categories to describe the
purpose of your journal entry. Such as a payments or
receipts.

REVERSAL METHODS : are two types
1. Switch Dr/Cr
2. Change sing
you can choose Switch Dr/Cr or Change
sing as the reversal methods to use when reversing a
journal entry

Is This Answer Correct ?    16 Yes 1 No



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