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Supplemental Problem 44 Listed below are begining and ending balances of selected balance sheet accounts taken from the Myers company Revenue and Expense accounts are also listed. Myers uses the accrual method of accounting REQUIRED: 1. Detemmine the amount of cash paid or received for each statement account 2 Prepare an income statement a. On the cash basis of accounting b. On the accrual basis of accounting ACCOUNT Accounts Receivable Prepaid Rent Prepaid Insurance Prepaid Interest Prepaid Advertising Accounts Payable Uneamed Revense Salaries Payable Taxes Payable 20,000 25,000 1,000 250 1.200 17,500 0 1,500 750 500 15,000 6.000 10,000 ,000 Expenses Revenses recondod during the year fox:(acorual basis Sales Rent Expense Insurance Expense Interest Espense Adventising Exponse Salaries Espense Odher Espenses Tases Expens 350,000 12.000 4,000 1.200 3,500 30,000 50.000 14,000 MacBook