Georgetown purchased supplies on August 8, 20X2, for $3,900. At the fiscal year-end on September 30, the inventory of supplies was $2,750. Required: a. Assume that Georgetown uses the consumption method of accounting for inventories. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) (1) Prepare the entry for the purchase on August 8, 20X2. (2) Prepare the entries required on September 30, 20X2, Including the closing of the Expenditures account (3) Assuming the supplies were used during 20X3, prepare the entries on September 30, 20X3. Record the acquisition of the inventory of supplies in 20X2. 7 General Journal Debit Credit Note: Enter debits before credits. Date August 08 Record the entry to recognize the ending inventory of supplies in 20X2. Note: Enter debits before credits. Date September 30 Record entry General Journal Debit Credit < 1 2 3 5 6 7 Record the entry to establish the fund reserve for ending inventory in 20X2. Note: Enter debits before credits. Date September 30 General Journal Debit Credit > r 2 3 5 6 7 Record the entry to close the expenditures account in 20X2. Note: Enter debits before credits. Date September 30 General Journal Debit Credit 1 2 3 4 5 6 7 Record the expenditures for the inventory consumed in 20X3. Note: Enter debits before credits. Date September 30 General Journal Debit Credit