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Georgetown purchased supplies on August 8, 20X2, for $4,000. At the fiscal year-end on September 30, the inventory of supplies wos $2700. Required: a. Assume that Georgetown uses the consumption method of accounting for inventories. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. 1. Prepore the entry for the purchase on August 8,202 2. Prepare the entries required on September 30,202, 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 detits before credits. Journal entry worksheet Record the entry to recognize the ending inventory of supplies in 202. Note: Enter debits before credits: Journal entry worksheet Record the entry to establish the fund reserve for ending inventory in 202. Note: Enter debits before credita. Journal entry worksheet Record the entry to close the expenditures account in 202. Note: Enter debits before credits. Journal entry worksheet \begin{tabular}{lll|l} 2 & 3 & 7 \end{tabular} Record the expenditures for the inventory consumed in 203. Note: Enter debits before credits. Journal entry worksheet 1 Record the entry to remove the fund balance reserve for the inventory consumed in 203. Note: Enter debits before credits. Journal entry worksheet Record the entry to close the expenditures account in 203. Note: Enter debits before credits: b. Assume that Georgetown uses the purchase method of accounting for inventories. Note: If no entry is required for a transaction/event, select "No journat entry required" in the first account fieid. 1. Prepare the entry for the purchase on August 8,202 2. Prepare the entries required on September 30,202, including the closing of the Expenditures account. Journal entry worksheet Record the entry to acquire the inventory of supplies in 202. Note: Enter debits before credits. Journal entry worksheet Record the entry to recognize the ending inventory of supplies in 202. Note: Enter debits before credits. Journal entry worksheet Record the entry to close the expenditures account in 202. Note: Enter debits before credits Journal entry worksheet Record the entry to remove the fund balance reserve for the inventory consurned in 203. Note: Enter debits before credits