A reversing entry would never involve which of the following accounts?
A)Interest Expense
B)Wages Payable
C)Cash
D)Interest Income

Question

Quizplus · Accepted Answer

Reversing entries are used to cancel out adjusting entries made in the previous accounting period. Reversing entries involve accounts that were initially debited or credited in the original adjusting entry. Cash is not an account that is typically involved in adjusting entries, therefore it would not be involved in a reversing entry. Choices A, B, and D are all accounts that could potentially be involved in adjusting entries and therefore could be subject to a reversing entry.

A Reversing Entry Would Never Involve Which of the Following