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reet Catering completed the following selected transactions during May 2016: - May 1: Prepaid rent for three months, $1,500 - May 5: Received and paid

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reet Catering completed the following selected transactions during May 2016: - May 1: Prepaid rent for three months, $1,500 - May 5: Received and paid electricity bill, $230 - May 9: Received cash for meals served to customers, \$1,090 - May 14: Paid cash for kitchen equipment, $3,430 - May 23: Served a banquet on account, $1,680 - May 31: Made the adjusting entry for rent (from May 1). - May 31: Accrued salary expense, $950 - May 31: Recorded depreciation for May on kitchen equipment, $330 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 (foss) would they have recorded for the month of May? If there is a loss, enter it with parentheses or a negative sign. reet Catering completed the following selected transactions during May 2016: - May 1: Prepaid rent for three months, $1,500 - May 5: Received and paid electricity bill, $230 - May 9: Received cash for meals served to customers, \$1,090 - May 14: Paid cash for kitchen equipment, $3,430 - May 23: Served a banquet on account, $1,680 - May 31: Made the adjusting entry for rent (from May 1). - May 31: Accrued salary expense, $950 - May 31: Recorded depreciation for May on kitchen equipment, $330 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 (foss) would they have recorded for the month of May? If there is a loss, enter it with parentheses or a negative sign

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