Fantastic Catering completed the following selected transactions during May 2016: . May 1: Prepaid rent for three months, $3,000 May 5: Received and paid electricity bill, $70 May 9: Received cash for meals served to customers, $2,700 May 14: Paid cash for kitchen equipment, $2,700 May 23: Served a banquet on account, $2,900 May 31: Made the adjusting entry for rent (from May 1). May 31: Accrued salary expense, $1,700 May 31: Recorded depreciation for May on kitchen equipment, $100 Amount of Revenue (Expense) for May Cash Basis Accrual Basis 3000 May 1 I May 5 May 9 May 14 May 23 May 31 May 31 May 31 UTCATCHFITS Teserveu. TV PUNCT TESTOST