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Entries to correct errors The following errors took place in journalizing and posting transactions: ...

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Accounting

Entries to correct errors
The following errors took place in journalizing and posting transactions:
a. Insurance of $12,000 paid for the current year was recorded as a debit to Insurance Expense and a credit to Prepaid Insurance. Note: Prepare the entry to reverse the original entry first.
b. Withdrawals of $8,000 by Nicole Crenshaw 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.
b.
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