Which of the following statements explains what a trial balance is? O Atrial balance confirms that the sum of debit account balances equals the sum of credit account balances. O Atrial balance proves that debit balances equal debit balances within the general ledger O Atrial balance confirms that no mistakes were made in recording transactions. O Atrial balance is prepared before posting of any journal entries. A Which of the following statements is (are) correct regarding the effect of debiting or crediting accounts? (Check all that apply.) To reduce Accounts payable, you would debit it To increase the Owner, Capital account you would debit it. To decrease an asset, you would credit it. To increase a revenue account, you would debit it. To increase an expense account, you would debit it. To reduce Cash, you would credit it To increase the Withdrawals account, you would debit it