Knowledge Check 01 Use the drop-down menus to indicate whether each of the following events would be recorded as expenses at the time it happen under the accrual basis and cash-basis accounting methods. Event October, Purchase supplies totaling $10,000 on account November Pay cash for the supplies that were purchased in October December: Pay $900 cash for utilities for the current month. Accrual-Basis Do not record expense Cash-Basis Do not record expense