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When a trial balance is out of balance, it means there have been too many deblt or credit entries. True False Question 4 (1 point) The rules of debit and credit state that liability accounts decrease on the credit side the left side is the credit side. Owner's Equity decreases on the debit side. assets decrease on the debit side Question 5 (1 point) For every business transaction, there must be at least one debit and one sredi entry True False Question 6 (1 point) At the beginning of the year, the owner's capital was $34 000. At the end of the year, capital was $31 600. If the business lost $1000 during the year, how much were drawings? $1400 $2400 $600 S3400 Question 7 (1 point) A business purchased office supplies for $350 cash, with the remaining $300 to be paid later. This transaction should be recorded as a debit to supplies, credit to Bank, and credit to Accounts Receivable. debit to Supplies, credit to Bank and credit to Accounts Payable. Odebit to Bank, credit to Accounts Receivable, and credit to Supplies O debit to Supplies and credit to Accounts Payable