Partial balance sheets and additional information are listed below for Monaco Company Monaco Company Partial Balance Sheets as of December 31 2021 2020 Assets Cash $46,000 $23,000 Accounts receivable 66,000 96,000 Inventory 28,000 46,000 Liabilities Accounts payable $63,000 $78,000 Additional information for 2021 Net income was $276,000. Depreciation expense was $36,000. Sales totaled $860,000. Cost of goods sold totaled $311,000 Required: Prepare the summary entry for the amount of cash paid to merchandise suppliers during 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record the entry for the amount of cash paid to merchandise suppliers during 2021. Note: Enter debits before credits Event General Journal Debit Credit