During the year a city purchases supplies that cost $3.5 million, pays for $3.0 million of the supplies, and uses $3.3 million of them. At the start of the year it had no inventory on hand. Hence, at year-end it has $0.2 million of supplies available for future use. Record the following 9 journal entries:

Record the follwoing journal entries under the Purchases Method.

To record the ordering of supplies

To record the receipt of supplies

To record the payment for supplies

To record the inventory on hand at year-end (year 1)

Record the appropriate journal entries under the Consumption Method.

5. To record the ordering of supplies

6. To record the receipt of supplies

7. To record the payment for supplies

8. To record the consumption of inventory

9. To reclassify to reflect year-end balance of inventory (year 1)