Does a reversing entry reverse an adjusting entry or a transaction entry?

journal entries recorded to update general ledger accounts at the end of a fiscal period.

Adjusting entries occur completed at the end of the accounting period, but before preparing the financial statements; so in order for a company's accounting financial statements and records to be...

According to my understanding and my study in accounting, the reversal of journal entry merely is for the opening balances for a new year of accounting period

deferred expenses, deferred revenues, accrued expenses, accrued revenues and estimated expenses

credit inventory, debit cost of good sold.