Question: The following errors took place in journalizing and posting transactions: a. Insurance of $22,400 paid for the current year was recorded as a debit

The following errors took place in journalizing and posting transactions: a. Insurance of $22,400 paid for the current year was recorded as a debit

The following errors took place in journalizing and posting transactions: a. Insurance of $22,400 paid for the current year was recorded as a debit to Insurance Expense and a credit to Prepaid Insurance. b. Dividends of $15,000 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. Entries to Correct Errors 00 33 13

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