Sweet Catering completed the following selected transactions during May 2016: 2 May 1: Prepaid rent for three months, $2,400 May 5: Received and paid electricity bill, $70 May 9: Received cash for meals served to customers, $2,700 May 14: Paid cash for kitchen equipment, $3,390 May 23: Served a banquet on account, $1,800 May 31: Made the adjusting entry for rent (from May 1). May 31: Accrued salary expense, $2,200 May 31: Recorded depreciation for May on kitchen equipment, $580 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 loss, enter it with parentheses or a negative sign. Identify whether each account would appear on the Balance Sheet or the Income Statement. Repairs and Maintenance Expense Prepaid Rent Balance Sheet Interest Payable Interest Expense Income Statement Interest Revenue Advertising Expense >

Sweet Catering completed the following selected transactions during May 2016: - May 1: Prepaid rent for three months, $2,400 + May 5: Received and paid electricity bill, 570 - May 9: Received cash for meals served to customers, $2,700 - May 14: Paid cash for kitchen equipment, $3,390 - May 23: 5erved a banquet on account, 51,800 - May 31: Made the adjusting entry for rent (from May 1). - May 31: Accrued salary expense, $2,200 - May 31: Recorded depreciation for May on kitchen equipment, 5580 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 loss, enter it with parentheses or a negative sign. 2 Identify whether each account would appear on the Balance Sheet or the Income Statement