4) debit Unearned Revenue and credit Cash. Question 5 (1.25 points) saved Percy Root Company purchased equipment for $8,000 on January 1, 2011. The company expects to use the equipment for 4 years. It has no salvage value. What balance would be reported on the December 31, 2011 balance sheet for Accumulated Depreciation? 1) $1,600 2) $4,000 3) $2,000 4) \$0 because Accumulated Depreciation is Neported on the Income Statement. Question 6 (1.25 points)