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Prepare the summary entries necessary to determine the amount of cash paid to suppliers for each of the four independent situations below. Cas! su Situation 1 Cost of goods sold $400,000 400,000 100,000 100,000 Inventory Increase (Decrease) $ 6,000 0 6,000 (6,000) Account payable Increase (Decrease) $ 0 7,000 7,000 (7,000) 2 3 4 Complete this question by entering your answers in the tabs below. Cash Paid General Journal Determine the amount of cash paid to suppliers for each of the four independent situations b Situation Cash paid to suppliers 1 Cost of goods Inventory increase Account payable sold (decrease) increase (decrease) 400,000 $ 6,000 $ 0 400,000 0 7,000 100,000 6,000 7,000 100,000 (6,000) (7,000) 2 3 4 Cash Paid General Journal