If 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.

-$1,390

Explanation:

The computation of net income using the accrual method is shown below:-

Net income = Received cash meals to customers + Served a banquet account - Received and paid electricity bill - Accrued salary expense - Prepaid insurance expired

= $470 + $1,530 - $250 - $3,000 - $140

= -$1,390

Therefore for computing the net income using the accrual method we simply applied the above formula.

in terms of experimental research, mcdonald’s charging different prices in the two cities relates to