Entries to Correct Errors The following errors took place in journalizing and posting transactions: a. Rent of $8,700 paid for the current month was recorded as a debit to Rent Expense and a credit to Prepaid Rent. b. A vithdrawal of $11,000 by Juanita Jacobsen, owner of the business, was recorded as a debit to Wages Expense and a credit to Cash. Journalize the entries to correct the errors. For part a, first reverse the original entry and then make the correct entry. b.

Entries to Correct Errors The following errors took place in journalizing and posting transactions: a. Rent of $8,700 paid for the current month was recorded as a debit to Rent Expense and a credit to Prepaid Rent. b. A vithdrawal of $11,000 by Juanita Jacobsen, owner of the business, was recorded as a debit to Wages Expense and a credit to Cash. Journalize the entries to correct the errors. For part a, first reverse the original entry and then make the correct entry. b.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter4: Journalizing And Posting Transactions

Section: Chapter Questions

Problem 8SEB: FINDING AND CORRECTING ERRORS On April 25, after the transactions had been posted, Mary Smith...

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