The City of Batavla ordered new computer equipment for $30,000 on November 3,202. The equipment had not been recelved by December 31,202, Batavia's fiscal year-end Required: a. Assume that the city has a pollcy that outstanding encumbrances lapse at year-end. Note: If no entry is required for a transactlon/event, select "No journal entry required" In the first account fleld. 1. Prepare the entry to record the encumbrance on November 3,202. 2. Prepare the entries required on December 31,202. 3. Assuming that the city council accepts outstanding encumbrances in its budget for the next fiscal period (20x3), prepare entries on January 1,203. 4. Prepare entries on January 18, 20x3, when the equipment was recelved with an Invorce cost of $30,600 and accepted by the city. 5. Prepare the entry on December 31,203, to close the expenditures account: (1) Record the entry for the equipment order and encumbrances in 202. (2) Record the entry to close the remaining budgeted encumbrances in 202. (3) Record the entry to reserve the actual fund balance for the outstanding encumbrances at year-end in 202. Record the entry to reverse the prior-year encumbrance reserve in 203. Record the entry to establish the budgetary control over the encumbrances renewed from the prior year in 203. Note: = journal entry has been entered the outstanding encumbrances at year-end in 202. Record the entry to reverse the prior-year encumbrance reserve in 203. Record the entry to establish the budgetary control over the encumbrances renewed from the prior year in 203. Record the entry to remove the budgetary reserve for the goods received in 203. Record the expenditure for the goods received at the actual cost in 203. 8 Record the entry to close the 203 expenditures account