Exercise 21-2 Determine cash paid to suppliers of merchandise (LO21-3, 21-6] Shown below In T-account format are the beginning and ending balances ($ in millions of both Inventory and accounts payable. Beginning balance Ending balance Inventory 75.81 76.5 Accounts Payable 18.Beginning balance 1 20.4 Ending balance Required: 1. Use a T-account analysis to determine the amount of cash paid to suppliers of merchandise during the reporting period if cost of goods sold was $210 million. 2 Prepare a summary entry that represents the net effect of merchandise purchases during the reporting period. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use a T-account analysis to determine the amount of cash paid to suppliers of merchandise during the reporting period if cost of goods sold was $210 million. Enter your answer in millions rounded to 1 decimal place i.e. 5.500,000 should be entered as 5.5). Cash paid to suppliers million Required Required 2 > Required 1 Required 2 Prepare a summary entry that represents the net effect of merchandise purchases during the reporting period. (Enter your answers in millions rounded to i decimal place (i.e. 5,500,000 should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction ist View journal entry worksheet No Event General Journal Debit Credit Inventory Cost of goods sold Accounts payable Cash