. 24 Land 105,000 Cash 105,000 Purchased land for business. What effects does this journal entry have on the accounts? 1) increase Land and decrease Cash O2) increase Cash and decrease Land 3) increase Cash and increase Land 4) decrease Cash and decrease Land A trial balance is prepared to 1) prove that no errors were made in posting to the ledger 2) prove that each account balance is correct 3) prove that there were no errors made in recording transactions into the journal 4) discover errors that affect the equality of debits and credits