Christy purchases supplies worth $1,000 from a local vendor. The supplies are delivered on March 29th of this year. The supplies are fully used up by year end. Because of unusual circumstances, a bill for the supplies arrives from the vendor on January 10th of the next year and is promptly paid. When can Christy deduct the expenses? 1. This year if she is an accrual basis taxpayer 2. Next year if she is a cash basis taxpayer Only statement 2 is correct. Both statements are correct. Neither statement is correct. O Only statement 1 is correct