1. Business
2. Accounting
3. Financial Accounting & Bookkeeping
4. Journal Entries
5. 32195

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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.