Question: The following errors took place in journalizing and posting transactions: a. Rent of $12,500 paid for the current month was recorded as a debit to

The following errors took place in journalizing and posting transactions:
a. Rent of $12,500 paid for the current month was recorded as a debit to Rent Expense and a credit to Prepaid Rent.
b. Dividends of $7,500 were recorded as a debit to Wages Expense and a credit to Cash.
Journalize the entries to correct the errors. Omit explanations.

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