Read each scenario, decide whether the company is using Cash basis or Accrual basis, and then enter your answer to the question. The Blue Nile Law Firm prepays for advertising in the local newspaper. On January 1, the law firm paid $1,050 for six months of advertising. Blue Nile Law Firm recorded $1,050 in the Prepaid Advertising account. If Blue Nile Law Firm had recorded their expenses using the other method, how much advertising expense would they have recorded for the two months ending February 28? Enter this value as a positive number. Secure Home provides house-sitting for people while they are away on vacation. Some of its customers pay immediately after the job is finished. Some customers ask that the business send them a bill. As of the end of the year, Secure Home has collected $3,640 from cash-paying customers. Secure Home's remaining customers owe the business $3,820. Secure Home recorded $3,640 of service revenue for the year. Secure Home provides house-sitting for people while they are away on vacation. Some of its customers pay immediately after the job is finished. Some customers ask that the business send them a bill. As of the end of the year. Secure Home has collected $3,640 from cash-paying customers. Secure Home's remaining customers owe the business $3,820. Secure Home recorded $3,640 of service revenue for the year. If Secure Home had recorded their service revenue using the other method, how much service revenue would they have recorded for the year? Momentous Occasions received $3,740 for services to be performed for the next 8 months on March 31 and recorded this transaction using the Unearned Revenue account. If Momentous Occasions had recorded their service revenue using the other method, how much service revenue would they have recorded for the year? Sweet Catering completed the following selected transactions during May 2016 Sweet Catering completed the following selected transactions during May 2016: .May 1: Prepaid rent for three months, $1,800 May 5: Received and paid electricity bill, $70 May 9: Received cash for meals served to customers, $1,690 May 14: Paid cash for kitchen equipment, $3,150 May 23: Served a banquet on account, $2,290 May 31: Made the adjusting entry for rent (from May 1) May 31: Accrued salary expense, $3,520 May 31: Recorded depreciation for May on kitchen equipment, $500 If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they ha 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 recorded for the month of May? If there is a loss, enter it with parentheses or a negative sign. 2 Identify whether each account would appear on the Balance Sheet or the Income Statement Accounts Receivable Furniture Supplies Expense Common Stock Land Service Revenue