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General Ledger » Balance Sheet (RSS)
  • Reverse prior year's entry

    Hey, I have a situation here: Last fiscal year, we accrued the balance of the multi-year grant: Debit - unconditional promise to give Credit--foundation specific request This fiscal year, we found that partial accrual should be reversed. what should the journal entry be, then....Debit: revenue ( current...
    Posted to Forum by Xia Chen on 05-04-2009
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