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Expense Matching Identify the proper point to recognize expensefor each of the following transactions.a. Katharina Inc. purchases on credit six custom sofas for $800each in June. Two of the sofas are sold for $1,200 each in June.One of the sofas is sold for $1,000 in July and the remaining threesofas are sold for $1,500 each in August. All sales are for cash.Katharina pays its supplier in July.b. Kuyu Co. purchases $500 of supplies in January. Half thesupplies are used in January with the remaining half used inFebruary.c. Jane Co. purchases $1,000 of inventory for cash in September.The entire inventory is sold in November.
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