Please provide a chart for each of the journal entries listed in the transaction list, thank you!
Georgetown purchased supplies on August 8, 20X2, for $4,200. At the fiscal year-end on September 30 , the inventory of supplies was $2,950. 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, 202. (2) Prepare the entries required on September 30,20X2, including the closing of the Expenditures account. (3) Assuming the supplies were used during 203, prepare the entries on September 30, 203. Journal entry worksheet 234567 Record the acquisition of the inventory of supplies in 202. Note: Enter debits before credies. 1 Record the acquisition of the inventory of supplies in 202. 2 Record the entry to recognize the ending inventory of supplies in 202. 3 Record the entry to establish the fund reserve for ending inventory in 202. 4 Record the entry to close the expenditures account in 202. 5 Record the expenditures for the inventory consumed in 203. 3 Record the entry to establish the fund reserve for ending inventory in 202. 4 Record the entry to close the expenditures account in 202. 5 Record the expenditures for the inventory consumed in 203. 6 Record the entry to remove the fund balance reserve for the inventory consumed in 203. 7. Record the entry to close the expenditures account in 203 b. Assume that Georgetown uses the purchase 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 8,202. (2) Prepare the entries required on September 30,20X2, including the closing of the Expenditures account. (3) Assuming the supplies were used during 203, prepare the entry on September 30,203. 1 Record the entry to acquire the inventory of supplies in 202. 2 Record the entry to recognize the ending inventory of supplies in 202. 3 Record the entry to close the expenditures account in 202. 4 Record the entry to remove the fund balance reserve for Credit the inventory consumed in 203. Note : = journal entry has been entered