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, $240 May 9: Received cash for meals served to customers, $1,450 May 14: Paid cash for kitchen equipment, $3,380 May 23: Served a banquet on account, $2,760 May 31: Made the adjusting entry for rent (from May 1). . May 31: Accrued salary expense, $2,900 May 31: Recorded depreciation for May on kitchen equipment, $190 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, $1,800 - May 5: Received and paid electricity bill, $240 - May 9: Received cash for meals served to customers, \$1,450 - May 14: Paid cash for kitchen equipment, \$3,380 - May 23: Served a banquet on account, \$2,760 - May 31: Made the adjusting entry for rent (from May 1). - May 31: Acerued salary expense, \$2,900 - May 31: Recorded depreciation for May on kitchen equipment, $190 If sweet catering had recorded transactions using the Cath method, how much net income (ioss) would they have recorded for the month of May? if there is a loss, ente it with parentheses or a negative sign. If Sweet Catering had recorded vansactions using the Accrual method, how much net income dosst would they have recorded for the month of May? if there is a loss, enter it with parentheses or a negative sign