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    Entries to correct errors

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    The following errors took place in journazlizing 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.
    c) A $550 purchase of supplies on account was recorded as a debit to Misc expense, and a credit to prepaid rent.
    d) Cash of $3750 received on account was recorded as a debit to accounts payable and a credit to cash

    Journalize the entries to correct the errors, omit explanations.

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    https://brainmass.com/business/journal-entries/entries-correct-errors-32195

    Solution Summary

    Entries to correct errors are made.

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