Hello, this is Victor

I am having a very difficult time figuring out this question and despite getting some answers, I don't have a good idea what to do here. So, if I can get help gaining a better idea on what to do here, that would be greatly appreciated.

Thank your for your time.

Question 2 Not complete Marked out of 24.00 Flag question Inventory Accounting General City's general fund reported a supplies inventory costing $200,000 at the beginning of the fiscal year. During the year, General City purchased materials and supplies on account for $15,000,000; $900,000 remains unpaid at year-end. Materials and supplies costing $125,000 are on hand at the end of the fiscal year. Required Prepare the summary journal entries made this year using the consumption and purchases methods. For the purchases method, inventory levels are considered insignificant. Consumption mehod Description Debit Credit 0 O O Cash Accounts payable To record supplies used. O O O 0 To adjust fund balance for supplies on-hand. Purchases method Description Debit Credit O 0 O O Accounts payable O To record supplies used