Sweet Catering completed the following selected transactions during May 2016: May 5: Received and paid electricity bill, $90 May 9: Received cash for meals served to customers, $2,920 May 23: Served a banquet on account, $2,980 May 31: Accrued salary expense, $1,300 May 31: Recorded prepaid insurance expired, $60 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. CHECK ANSWER SKIP TO NEXT RESET Incorrect. Try reviewing the Hint to better understand the goal of this activity. Privacy Policy Copyright 2022 Pearson Educa