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Sweet Catering completed the following selected transactions during May 2016: - May 1: Prepaid rent...

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Accounting

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Sweet Catering completed the following selected transactions during May 2016: - May 1: Prepaid rent for three months, $1,800 - May s: Received and paid electricity bill, $70 - May 9: Received cash for meals served to customers, $3,620 - May 14: Paid cash for kitchen equipment, $3,960 - May 23: Served a banquet on account, \$2,770 - May 31: Made the adjusting entry for rent (from May 1). - May 31: Accrued salary expense, 53,740 - May 31: Recorded depreciation for May on kitchen equipment, $740 If Sweet Cotering had recorded transactions using the Cash method, how much net income (foss) 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 (ioss) would they have recorded for the month of May? if there is a loss, enter is with parenthesps or a negative sign

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