Instructions x The following errors took place in joumalizing and posting transactions: a. Insurance of $18,000 paid for the current year was recorded as a debit to Insurance Expense and a credit to Prepaid Insurance b. Dividends of $10,000 were recorded as a debit to Wages Expense and a credit to Cash. Joumatre the entries to correct the errors. Use two entries to correct the error described in A. (That is, record an entry to reverse the incorrect entry and a second entry to record the correct entry) Refer to the Chart of Accounts for exact wording of account les Instructions Chart of Accounts Journal 0 Instructions The following errors took place in journalizing and posting transactions: a. Cash of $8,800 received on account was recorded as a debit to Fees Earned and a credit to Cash. b. A $1,760 purchase of supplies for cash was recorded as a debit to Supplies Expense and a credit to Accounts Payable. Journalize the entries to correct the errors. Use two transactions to correct the error described in b. (That is, record an entry to reverse the incorrect entry and a second entry to record the correct entry) Refer to the Chart of Accounts for exact wording of account titles