Question

The following errors took place in journalizing and posting transactions:
a. A withdrawal of $20,000 by Joel Goodson, owner of the business, was recorded as a debit to Wages Expense and a credit to Cash.
b. Rent of $3,600 paid for the current month was recorded as a debit to Rent Expense and a credit to Prepaid Rent.
Journalize the entries to correct the errors. Omit explanations.



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  • CreatedJuly 17, 2012
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