Question: Entries to correct errors The following errors took place in fournalizing and posting transactions: a. Insurance of $18,800 paid for the current year was recorded

Entries to correct errors The following errors took place in fournalizing and posting transactions: a. Insurance of $18,800 paid for the current year was recorded as a debit to Insurance Expense and a credit to Prepaid Insurance. Note: Prepare the entry to reverse the original entry first. b. Dividends of $13,000 were recorded as a debit to Wages Expense and a credit to Cash. Journalize the entries to correct the errors. If an amount box does not require an entry, leave it blank

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