7. Mia Trading owns machinery that costs RM60,000. It is the policy of the business to charge depreciation over its useful life of 5 years. At the end of its useful life, it is estimated that the residual value is RM4,000. What is the depreciation charge during the year? a. RM12,800. b. RM800. c. RM12,000. d. RM11,200. 8. An expense account has a balance, while a revenue account has a balance. a. Credit; Credit. b. Debit; Debit. c. Debit; Credit. d. Credit; Debit