Williams Company has an inexperienced accountant. During the first two weeks on the job. The accountant made the following errors in journalizing transactions. All entries were posted as made. 1. A payment on account of $840 to a creditor was debited to Accounts Payable $480 and credited to Cash $480. 2. A $500 withdrawal of cash for C. Williams' personal use was debited to Salaries and Wages Expense $500 and credited to Cash $500. Instructions: Prepare the correcting entries