Entries to Correct Errors The following errors took place in journalizing and posting transactions: a. Insurance of $23,000 paid for the current year was recorded as a debit to Insurance Expense and a credit to Prepaid Insurance. b. Dividends of $16,000 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. 00 00 00