a. - Expense Matching Identify the proper point to recognize expense for each of the following transactions. Kat Inc. purchases on credit six custom sofas for $800 each in June. Two of the sofas are sold for $1,200 each in June. One of the sofas is sold for $1,200 in July and the remaining three sofas are sold for $1,500 each in August. All sales are for cash. Kat pays its supplier in July, b. Kira Co. purchases $500 of supplies in January. Half the supplies are used in January with the remaining half used in February. Joseph Co. purchases $2,000 of inventory for cash in September. The entire inventory is sold in November C