EX 2-21 Entries to correct errors

The following errors took place in journalizing and posting transactions:
a. Rent of $12,500 paid for the current month was recorded as a debit to Rent Expense
and a credit to Prepaid Rent.
b. A withdrawal of $7,500 by Trent Benedict, owner of the business, was recorded as a
debit to Wages Expense and a credit to Cash.
Journalize the entries to correct the errors. Omit explanations.

Answer:
a. Prepaid Rent .................................................................. 12,500
                        Cash......................................................................... 12,500

b. Trent Benedict, Drawing............................................... 7,500
                            Wages Expense....................................................... 7,500