Read the transactions and fill in the Cash basis/Accrual basis table. Enter expenses in parentheses or with a negative sign. Enter a 0 if there is nothing to record on a specific date. Fantastic Catering completed the following selected transactions during May 2016:

May 1: Prepaid rent for three months, $2,100

May 5: Received and paid electricity bill, $160

May 9: Received cash for meals served to customers, $2,300

May 14: Paid cash for kitchen equipment, $3,800

May 23: Served a banquet on account, $2,500

May 31: Made the adjusting entry for rent (from May 1).

May 31: Accrued salary expense, $1,900

May 31: Recorded depreciation for May on kitchen equipment, $90