The Accounts Receivable account is a(n) ___ and normally carries a ___ balance Your Sales or Revenue account normally carries a ___ balance, and would appear on this statement ___ An expense account normally carries a ___ balance Calculate how much depreciation you would take in the third year for $7,000 capital asset using SYD depreciation method for 5 years. ___ If purchased a $20,000 piece of equipment and depreciated it over 7 years, using Straight Line depreciation, what would my monthly depreciation expense be? ____ True or False? Depreciation expense has a negative effect on my company's cash flow? ___ True or False? On occasion, it is okay for your debits and credits to be out of balance, as long as you can explain why? ___ True or False? If you make an debit entry to an income Statement" account, your corresponding credit entry must also be an "Income Statement" account. ___