Question 2 (1 point) Select as many of the answers as are appropriate; all appropriate answers must be selected to get the question correct. Indicate which of the following are correct: (1 mark - 3 minutes) Retained earnings is increased by credit entries. Accounts receivable, accumulated depreciation - equipment, and prepaid rent are all permanent accounts. The income summary account would normally be expected to have a credit balance after the first two closing entries. Insurance expense, prepaid rent and cost of goods sold are temporary accounts. Prepaid insurance, depreciation expense and dividends declared all normally have a debit balance. A debit to "accumulated depreciation - equipment" increases the account. Unearned revenue, dividends declared and common shares all normally have a credit balance