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Sweet Catering completed the following selected transactio

By admin / June 21, 2020

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Sweet Catering completed the following selected transactions during May 2016:May 1: Prepaid rent for three months $3000May 5: Received and paid electricity bill $170May 9: Received cash for meals served to customers $1210May 14: Paid cash for kitchen equipment $2480May 23: Served a banquet on account $2310May 31: Made the adjusting entry for rent (from May 1).May 31: Accrued salary expense $3680May 31: Recorded depreciation for May on kitchen equipment $670If 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.

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