Which of the following would not be a proper application of the concept of materiality by Malloy Corporation?

Multiple Choice

On a monthly basis, utility bills are expensed in the month paid, rather than in the month in which services are used.

Immaterial items are ignored in making end$-$of$-$period adjusting entries.

Estimates of supplies on hand are used to determine the supplies expense for the period.

Transactions involving small dollar amounts are not recorded in Malloy$$s accounting records.