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The following errors took place in journalizing and posting transactions:
a. A withdrawal of $20,000 by Joel Goodson, owner of the business, was recorded as a debit to Wages Expense and a credit to Cash.
b. Rent of $3,600 paid for the current month was recorded as a debit to Rent Expense anda credit to Prepaid Rent.
Journalize the entries to correct the errors. Omit explanations.
Indus Company has a Supplies account balance of $900 on January 1, 2009. During 2009, it purchased $4,000 of supplies. As of December 31, 2009, a supplies inventory shows $7
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