Sweet Catering completed the following selected transactions during May 2016: May 1: Prepaid rent for three months, $1,200 May 5: Received and paid electricity bill, $120 May 9: Received cash for meals served to customers, $2,380 May 14: Paid cash for kitchen equipment, $2,950 May 23: Served a banquet on account, $2,100 May 31: Made the adjusting entry for rent (from May 1). May 31: Accrued salary expense, $2,510 May 31: Recorded depreciation for May on kitchen equipment, $530 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.

Sweet Catering completed the following selected transactions during May 2016: - May 1: Prepaid rent for three months, $1,200 - May 5: Received and paid electricity bill, $120 - May 9: Received cash for meals served to customers, $2,380 - May 14: Paid cash for kitchen equipment, $2,950 - May 23: Served a banquet on account, $2,100 - May 31: Made the adjusting entry for rent (from May 1). - May 31: Accrued salary expense, $2,510 - May 31: Recorded depreciation for May on kitchen equipment, 5530 If Sweet Catering had recorded transactions using the Cash method, how much net. income (loss) would they have recorded for the month of Moy? 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 nes income (loss) would they have recorded for the month of May? if there is a loss, enter it with parentheses of a negative sign