CUMULATIVE REVIEW PROBLEM: CHAPTER 14 The purpose of this problem is to provide an opportunity to review both new co chapter and major concepts in previous chapters. This cumulative review should as integrating accounting concepts and preparing for exams h new concep ts in the current REQUIRED: Use the following information for the ten questions which follow. PART I: USE THE FOLLOWING INFORMATION FOR THE NEXT FIVE QUESTIONS, Selected Balance Sheet account balances are: MELLISSA COMPANY 2010 Cash Accounts Payable Accounts Receivable Salaries Payable Land Merchandise Inventory Prepaid Rent Income Taxes Payable $ 20,000 30,000 160,000 7,000 50,000 70,000 8,000 ,000 S 10,000 40,000 10,000 1,000 80,000 0,000 30,000 2,000