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    Ceezalio's Avatar
    Ceezalio Posts: 1, Reputation: 1
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    #1

    Oct 2, 2015, 09:15 PM
    Jounal Entry
    Previous years closing journal entries made to increase A/R, were done in error. Because the company is on cash basis, payments received were credited to the income G/L line, so the A/R line didn’t decrease. Due to unorganized bookkeeping, I am not sure how to reverse the journal entry. What G/L line should be debited in order to decrease the A/R line.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Oct 3, 2015, 03:46 PM
    If you are going to reverse the adjusting entry you do exactly that using the same accounts
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