The following errors took place in journalizing and posting transactions: a. A withdrawal of $15,000 by Gerald
Question:
The following errors took place in journalizing and posting transactions:
a. A withdrawal of $15,000 by Gerald Owen, owner of the business, was recorded as a debit to Wages Expense and a credit to Cash.
b. Rent of $4,500 paid for the current month was recorded as a debit to Rent Expense and a credit to Prepaid Rent.
Journalize the entries to correct the errors. Omit explanations.
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ISBN: 978-0324188004
21st Edition
Authors: Carl s. warren, James m. reeve, Philip e. fess
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