Rent of $13,550 paid for the current month was recorded as a debit to Rent Expense and a credit to Prepaid Rent

The following errors took place in journalizing and posting transactions:

a. Rent of $13,550 paid for the current month was recorded as a debit to Rent Expense and a credit to Prepaid Rent.
b. A withdrawal of $14,000 by Ron Sutin, 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 13,550  Cash  13,550  b. Ron Sutin, Drawing 14,000  Wages Expense  14,000