6. a Tor F Certificates of deposit, commercial paper and U.S. Treasury Bills with original maturity of 6 months or less are examples of highly liquid investments and are classified as cash equivalents. (if false, identify and correcteror) b. T or F Depreciation expense reduces operating income but does not require the use of cash. It is reported as an addition to net income and separately stated in the statement of cash flows (if false, identify and correct error) Beta Fish Company had sales of $40,000, increase in accounts payable of $15,000, decrease in accounts receivable of S3,000, increase in inventories of S5,000, and depreciation expense of $2,000. What was the cash collected from customers? 7, a. S40,000 b. $43,000 c. $58,000 d. $41,000 e. $48,000