Question 3 3 pts Identify all of the true statements from the list below about debits and credits (Do not guess, as there is a penalty for incorrect choices.): In a T-account representation, a credit represents the right side of the account In a T-account representation, a debit represents the right side of the account. debits increase expenses and increase liabilities credits decrease revenues and decrease liabilities credits increase revenues and increase liabilities debits increase liabilities and decrease expenses Question 7 3 pts On May 5th, Highlands, Inc. issues 4,000 shares of its $7 stated value common stock for $10 per share. In the journal entry to record the issuance, the appropriate debit would be to [Select) for (Select) and the appropriate credit(s) . would be to [Select] for $28,000 and to [Select] for [Select 1