Entries to correct errors OBJ. 4 The following errors took place in journalizing and posting transactions: a.
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Entries to correct errors OBJ. 4 The following errors took place in journalizing 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.
Journalize the entries to correct the errors. Omit explanations.
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Related Book For 
Financial And Managerial Accounting
ISBN: 9781305267831,9781305267848
13th Edition
Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac
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