May 1 Prepaid Rent For Three Months 1 800 May 5 Received And Paid Electricity Bill 1 2187583

  • May 1: Prepaid rent for three months, $1,800
  • May 5: Received and paid electricity bill, $190
  • May 9: Received cash for meals served to customers, $1,810
  • May 14: Paid cash for kitchen equipment, $2,670
  • May 23: Served a banquet on account, $2,970
  • May 31: Made the adjusting entry for rent (from May 1).
  • May 31: Accrued salary expense, $2,710
  • May 31: Recorded depreciation for May on kitchen equipment, $180

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.incorrectIf 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.

Prof. Angela

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