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Sweet Catering completed the following selected transactions during May 2016: May 1: Prepaid rent for three months, $1,800 May 5: Received and paid electricity bill,
Sweet Catering completed the following selected transactions during May 2016: May 1: Prepaid rent for three months, $1,800 May 5: Received and paid electricity bill, $80 May 9: Received cash for meals served to customers, $2,410 May 14: Paid cash for kitchen equipment, $3,320 May 23: Served a banquet on account, $2,230 May 31: Made the adjusting entry for rent (from May 1). May 31: Accrued salary expense, $1,040 May 31: Recorded depreciation for ay on kitchen equipment, $470 . 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 with parentheses or a negative sign. -2790 If Sweet Catering had recorded transactions using the Accrual method, how much ne income (loss) would they have recorded for the month of May? If there is a loss, enter with parentheses or a negative sign
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