ACC 201, Sec 001, Fall 2019, Miller (1) Homework: Graded MAL HW # 3 [ C . 31 Fall 2019 Save HW Score: 55.11 % , 97 of 176 pts Score: 6 of 12 pts 14 of 18 (14 complete) Instructor-created question Question Help During May 2018 a company had the following (Click the icon to view the transactions) For May, what is net income or net loss using cash basis accounting and what is net income dr loss using accrual basis accounting? (Use parentheses or a minus sign to indicate a loss Round amounts to the nearest whole dollar during calculations & for final answers, as applicable) Accrual Basis Amount Cash Basis Amount Net income (loss) More Info 1 Prepaid rent for three months, $2,700 May 5 Received and pad electricity bill, $200 9 Receved cash for meals served to customers, $2.200 14 Paid cash for kitchen equpment, $2,400 23 Served a banquet on account, $3,600- 31 Made the adnting entry for rent (from May 1) 31 Accrued salary expense, $1,700 31 Recorded depreciation for May on kitchen equpment, $40- Print Done Enter any number in the edit fields and then click CheckAPW Check Answer Clear Al All parts showing a C tearch