2. For each situation, indicate the date on which the company in question should recognize an expense under accrual-basis accounting: 1. A.A. company purchases inventory on account on February 3rd. On February 14th, A.A. company sells the inventory. On February 15th, A.A. finally pays the supplier for the inventory. 2. On April 4th, Nonry Co. pays six months of rent in advance. The rent is due on the first day of every month.