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May 1: Prepaid rent for three months, $2,100 May 5: Received and paid electricity bill,...

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Accounting

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May 1: Prepaid rent for three months, $2,100 May 5: Received and paid electricity bill, $200 May 9: Received cash for meals served to customers, $2,100 May 14: Paid cash for kitchen equipment, $3,200 .May 23: Served a banquet on account, $2,400 May 31: Made the adjusting entry for rent (from May 1). May 31: Accrued salary expense, $1,500 . May 31: Recorded depreciation for May on kitchen equipment, $130 Amount of Revenue (Expense) for May Cash Basis Accrual Basis (2,100) (200) 2,100 3,200) iC

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