ACCOUNTING-Sweet Catering completed the following selected transactions during May 2016:

Read the transactions and fill in the Cash basis/Accrual basis table. Enter expenses in parentheses and enter a 0 if there is nothing to record on a specific date.Sweet Catering completed the following selected transactions during May 2016:May 1: Prepaid rent for three months, $2,100May 5: Received and paid electricity bill, $230May 9: Received cash for meals served to customers, $2,300May 14: Paid cash for kitchen equipment, $2,300May 23: Served a banquet on account, $1,700May 31: Made the adjusting entry for rent (from May 1).May 31: Accrued salary expense, $1,500May 31: Recorded depreciation for May on kitchen equipment, $770

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