(True or false)
1.Accounts found on the left side of of the accounting equation usually have credit balance.

2. For every transsaction there are at least two accounts affected.
3. The purchase al supplies on account will cause the liability account.

4. The prepaid insurance is a liability account.
5.when the company paid the accounts payable,asset will increase.

6.Expenss when paid are recorded by a debit to cash and credit to expense expense account .

7.in every journal entry, the difference between the
debit entry and credit entry should be zero.​