19. Expense recognition. Assume that Hewlett Packard (HP) uses the accrual basis of accounting and recognizes revenue at the time it sells goods or renders services. Indicate the amount o expense recognized dur ing March (if any) from each of the following transactions or events a. HP pays an insurance premium of $18,000 on March 1 for 1 year's coverage beginning on that date. b. On April 3, HP receives a utilities bill totaling $4,600 for services during March. c. HP purchases on account supplies costing $7,000 during March. It makes payment for $5,000 of these purchases on account in March and pays the remainder in April. On March 1, supplies were on hand that cost $3,000. On March 31, supplies that cost $3,500 were still on hand. d. Same as part c, except that $2,000 of supplies were on hand on March 1. e. In January, HP paid property taxes of $48,000 on an office building for the year. f. On March 29, HP paid an advance of $250 on the April salary to an employee