Required: 1. Use a T-eccount analysis to determine the amount of cosh paid to suppliers of metchandise during the feporting period if cost of goods sold was $380 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. 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 $380million. of goods sold was $380 milion. Note: Enter vour answer in milions rounded to 1 decimal place (1.e, 5,500,000 should be entered as 5.5 )