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 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.

veet 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