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help me please May 1: Prepaid rent for three months, $2,100 - May 5: Received and paid electricity bill, $110 - May 9: Received cash
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May 1: Prepaid rent for three months, $2,100 - May 5: Received and paid electricity bill, $110 - May 9: Received cash for meals served to customers, $350 - May 14: Paid cash for kitchen equipment, $3,460 - May 23: Served a banquet on account, $2,700 - May 31: Made the adjusting entry for rent (from May 1). - May 31: Accrued salary expense, $720 - May 31: Recorded depreciation for May on kitchen equipment, $650 If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they have recorded for the month of May? If there is a loss, enter it with parentheses or a negative sign. If Sweet Catering had recorded transactions using the Accrual method, how much net income (loss) would they have recorded for the month of May? If there is a ioss, enter it with parentheses or a negative sign Step by Step Solution
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