Transcribed Image Text: Advertising Expense. 275,000 Miscellaneous Expense.. 16,600 1,801,500 1,801,500 EX 2-21 Entries to correct errors Obj. 4 The following errors took place in
Transcribed Image Text: Advertising Expense.
275,000
Miscellaneous Expense..
16,600
1,801,500
1,801,500
EX 2-21
Entries to correct errors
Obj. 4
The following errors took place in journalizing and posting transactions:
a.
Insurance of $18,000 paid for the current year was recorded as a debit to Insurance Expense and a credit to Prepaid
SHOW ME HOW
Insurance.
b. Dividends of $10,000 were recorded as a debit to Wages Expense and a credit to Cash.
Journalize the entries to correct the errors. Omit explanations.
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