M$3-34.$ Inferring Transactions from Financial Statements $($FSET$)$

Amazon.com Inc. is one of the world's leading e$-$commerce companies, with over $$386$ billion

in revenues for the fiscal year ended December $31,2020.$ For the year ended December $31,2020,$

Amazon's cost of goods sold was $$233,307$ million. Assume that all purchases were made on ac$-$

count. The following T$-$accounts reflect information contained in the company's $2020$ and $2019$

balance sheets $($in millions$).$

pg$.3-35$

Prepare the entry using the financial statement effects template to record cost of goods sold for

the year ended December $31,2020.$

b$.$ Prepare the entry using the financial statement effects template to record Amazon's inventory

purchases for the year ended December $31,2020.($Assume all purchases are made on account.$)$

c$.$ What amount did Amazon pay in cash to its suppliers for the year ended December $31,2020?$