Assume a city uses the purchases method of recording supplies. Its general fund starts the year with zero supplies During the year, it purchases $6,000,000 of supplies, and uses $5,500,000. The general fund financial statements at the end of the year should show: $500,000 supplies asset, and $5,500,000 supplies expenditure $500,000 supplies asset, and $6,000,000 supplies expenditure $0 supplies asset, and $5,500,000 supplies expenditures $0 supplies asset, and $6,000,000 supplies expenditure