| May 1: Prepaid rent for three months, $2,400 May 5: Received and paid electricity bill, $100 May 9: Received cash for meals served to customers, $1,290 May 14: Paid cash for kitchen equipment, $3,250 May 23: Served a banquet on account, $1,710 May 31: Made the adjusting entry for rent (from May 1). May 31: Accrued salary expense, $2,100 May 31: Recorded depreciation for May on kitchen equipment, $530 1) 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. 2) 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. | 
