An error is made in a journal entry in the current month. What is the best course of action to correct the error? Record a new entry to correct the error made, as well as any reversing entries necessary to remove the error from the ledger accounts. Do nothing. The error will resolve itself. Erase the entry in the journal, writing the correct entry in its place, and tracing the error though the ledger, trial balances and financial statements Call the SEC and report the error