omework Saved At the end of the current fiscal year, the City of Columbus General Fund pre-adjusted trial balance showed the following balances for operating and budgetary accounts and fund balance accounts. Appropriations Estimated Other Financing Uses Estimated Revenues Encumbrances Expenditures Debits Credits $6,224,000 2,776,000 $7,997,000 0 Other Financing Usen 6,192,000 2,770,000 Revenues 7,980,000 Budgetary Fund Balance 1,003,000 Fund Balance-Nonspendable-Inventory of Supplies Fund Balance-Unassigned cest 140,000 1,990,000 The City of Columbus uses the purchases method of accounting for its inventory of supplies in the General Fund. The city uses a periodic inventory system in which the amount of inventory used during the year and the amount on hand at the end of the year are determined by a physical inventory. During the year, $220,000 of supplies were purchased and recorded as expenditures. These purchases are included in the final expenditures balance of $6,192,000 shown above. The physical inventory revealed a supplies balance of $152,000 at the end of the fiscal year, an increase of $12,000 from the prior year. Required a. Provide the required adjusting journal entry in the General Fund at the end of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < A Record the adjustment to inventory of supplies in the general fund. Note: Enter debits before credits Event General Journal Debit Credit Dalance of $152,00U at the end of the fiscal year, an increase of $12,UUU from the prior year. Required a. Provide the required adjusting journal entry in the General Fund at the end of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) pped View transaction list Book Print References Journal entry worksheet A Record the adjustment to inventory of supplies in the general fund. Note: Enter debits before credits. Event 1 General Journal Debit Credit Record entry Clear entry View general journal b. Provide the required journal entries in the General Fund general journal to close the operating statement and budgetary accounts at the end of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list omework i Question 2-Chapter 4 Homework-Connect Saved Record entry Clear entry View general journal b. Provide the required journal entries in the General Fund general journal to close the operating statement and budgetary accounts at the end of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet ces < A B Record the entry to close the budgetary accounts. Note: Enter debits before credits. Event 1 General Journal Debit Credit Record entry Clear entry View general journal Record entry Clear entry View general journal b. Provide the required journal entries in the General Fund general journal to close the operating statement and buc the end of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the firm View transaction list Journal entry worksheet < A B Record the entry to close the operating statement items. Note: Enter debits before credits. Event 2 General Journal Debit Credit Record entry Clear entry View general journal