1.A publisher sends magazines on a monthly basis to a customer throughout 2013. The customer had paid for this subscription in December 2012. For the February edition of the magazine, the publisher purchases paper in January by issuing a notes payable. The note is paid in March 2013. When should the company report the costs associated with the purchase of paper?2. On January 4, a company purchases supplies worth $1,500. Suppose that at the end of January, a count of supplies reveals that only $1,000 of supplies remains. This means that $500 worth of supplies were used during this period. How would you record this?