Business, 09.07.2020 05:01 jorell

May 1: Prepaid rent for three months, $3,000 May 5: Received and paid electricity bill, $130 May 9: Received cash for meals served to customers, $1,870 May 14: Paid cash for kitchen equipment, $2,990 May 23: Served a banquet on account, $2,520 May 31: Made the adjusting entry for rent (from May 1). May 31: Accrued salary expense, $2,590 May 31: Recorded depreciation for May on kitchen equipment, $740 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.

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May 1: Prepaid rent for three months, $3,000 May 5: Received and paid electricity bill, $130 May 9:...

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