Requirement: Show whether each transanctinon would be handled as a revenue or an expense using both cash basis and accrual basis accounting systems. Sweet Catering completed the following transactions during May 2014. May 1 Prepaid rent for 3 months, $1800. May 5 received and paid electric bill $700. 9- received cash for meals served to customers $2600. 14- paid cash for kitchen equipment $1800. 23- served a banquet on account $3400. 31- made adjusting entry for rent (from May 1). 3-accrued salary expense $1700. 3-recorded depreciation for Mayor kitchen equipment $30