$1.$ Is the following statement true or false? Debit means decrease and credit means increase. Explain your answer. $2.$ What are the three basic types of accounts? Name two additional types of accounts. To which one of the three basic types are these two additional types of accounts most closely related? $3.$ Suppose you are the accountant for Whistler Marketing Enterprises. Keeping in mind double$-$entry bookkeeping, identify the dual effects of Sasha Chandlers investment of $$10,000$ cash in her business. $4.$ To what does the normal balance of an account refer? Indicate the normal balance of the five types of accounts. Account Type Normal Balance Assets Liabilities Owners equity Revenues Expenses $5.$ Label each of the following transactions as increasing owners equity $(+),$ decreasing owners equity $(),$ or having no effect on owners equity $(0).$ Write the appropriate symbol in the space provided. Investment by owner: Invoice customer for services; Purchase of supplies on credit; Pay expenses with cash; Cash payment on account; Withdrawal of cash by owner; Borrowing money on a note payable; Sale of services on account; $6.$ What is the meaning of the statement Accounts Payable has a credit balance of $$2,800?7.$ Why do accountants prepare a trial balance? $8.$ The accountant for Wingers Construction mistakenly recorded a $$600$ purchase of supplies on account as $$6,000.$ He debited Supplies and credited Accounts Payable for $$6,000.$ Does this error cause the trial balance to be out of balance? Explain your answer. $9.$ If total debits equals total credits on the trial balance, is the trial balance error free? Explain your answer. $10.$ Wen started a business to offer development of online stores for small businesses. Record the following transactions in the journal of the business. Include an explanation with each journal entry$\mathrm{.}1$ Wen invested $$29,000$ cash in a business bank account to start his business. The business received the cash and gave Wen owners equity in the business. Purchased computer equipment on account, $$9,500.$ Paid cash for Septembers office rent of $$4,100.$ Recorded $$6,800$ revenue for services rendered to clients on account.