Current Attempt in Progress Reversing entries are used to reverse two type of adjusting entries: prepayments and accrued expenses. accrued revenue and expenses. prepayments and unearned revenues. accrued revenue and unearned revenues. Current Attempt in Progress Although it may look unusual, when preparing a reversing entry you may create no change; all accounts remain in the same balance. a credit balance in an expense account. a debit balance in an asset account, a credit balance a liability account