During the year the City of Hosta engaged in the following transactions. The city uses the consumption method of recording inventories and prepayments. The city has a $6/30$ fiscal year end.

REQUIRED: Record the following transactions related to supplies, prepaid items and fixed asset acquisitions.

a$.$ During the year the city purchased $$600,000$ of expendable supplies.

b$.$ On September $1$ the city paid $$360,000$ for a three$-$year insurance policy to cover some assets used in general government activities.

c$.$ On December $1$ the city purchased four pickup trucks for general government activities. The trucks cost $$100,000$ in total.

d$.$ On January $1$ the city leased some office equipment for use in the administrative offices. The lease qualified as a capital lease. The present value of the minimum lease payments is $$96,000.$

e$.$ On April $1$ the city leased a copying machine. The lease qualified as an operating lease. The terms of the lease require yearly payments of $$2,000$ each April $1$ for $5$ years. The city prepaid the entire five years of the lease