Question: A governmental fund has $ 5 0 , 0 0 0 of supplies at the beginning of Year 1 . Throughout the year it uses

A governmental fund has $50,000 of supplies at the beginning of Year 1. Throughout the year it uses $30,000 of the supplies. Assume the government uses the purchases method.
Which accounting entry should be made at the end of the year at the fund level? Also, what is the fund used the consumption method what would be the entry made at year end?

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