Show Me How Priem Entries to correct Errors The following errors took place in journaling and posting transactions: 3. Insurance of $21,200 paid for the current year was recorded as a debit to Insurance Expense and a credit to Prepaid Insurance b. Dividends of $23,000 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 a Prepaid Insurance Insurance Expense Cash Rent Expense