General Fund of the City of Mineral Wells shows $35,000 in supplies inventory on January 1, 2016. During the year 2016, General Fund cash is used to purchase $120,000 of supplies. On December 31, 2016, the city conducts an inventory count and finds $50,000 of supplies inventory remains. Using the purchases method of accounting for inventory, prepare the journal entries necessary to record. (a) Purchase of the inventory (b) To make the year-end adjustment to inventory