How to Reverse video or audio in Sony Vegas

Have you ever seen ads or a movie where the film goes on rewind, bring you back through time for whatever reason the director intended? This happens a lot in paper towel commercials, where you see a coffee stain get removed as the coffee pours itself back into a cup while the dog's footprints also disappear one by one as he gallops backwards to the front door.

You can actually acheive this same effect by using Sony Vegas. Check out this tutorial to learn how.