A B D E K M The City of Batavia ordered new computer equipment for $21,000 on November 3, 2022. The equipment had not been received by December 31, 2022, Batavia's fiscal year-end. Required: a. Assume that the city has a policy that outstanding encumbrances lapse at year-end. (1) Prepare the entry to record the encumbrance on November 3, 2022. (2) Prepare the entries required on December 31, 2022. (3) Assuming that the city council accepts outstanding encumbrances in its budget for the next fiscal period (2023), prepare entries on January 1, 2023. (4) Prepare entries on January 18, 2023, when the equipment was received with an invoice cost of $21,800 and accepted by the city. (5) Prepare the entry on December 31, 2023, to close the expenditures account. Date 3-Nov-22 31-Dec-22 31-Dec-22 1-Jan-23 1-Jan-23 18-Jan-23 18-Jan-23 31-Dec-23 General Journal Debit Credit N b. Assume the city's policy is that outstanding encumbrances are nonlapsing. (1) Prepare the entry to record the encumbrance on November 3, 2022. (2) Prepare the entries required on December 31, 2022. (3) Prepare the entry on January 1, 2023, to classify the expenditure in 2022, the year the encumbrance was initiated. (4) Prepare the entry on January 18, 2023, when the equipment was received for $21,800. The City Council approved the additional $800 equipment cost as an addition to 2023's expenditures. (5) Prepare the entries on December 31, 2023, to close the expenditures accounts.