Partial balance sheets and additional information are listed below for Monaco Company.

Monaco Company

Partial Balance Sheets

as of December $31$

$20242023$

Assets

Cash $ $39,000$ $ $19,500$

Accounts receivable $59,00089,000$

Inventory $24,50039,000$

Liabilities

Accounts payable $ $59,500$ $ $71,000$

Additional information for $2024$:

Net income was $$269,000.$

Depreciation expense was $$29,000.$

Sales totaled $$790,000.$

Cost of goods sold totaled $$304,000.$

Required:

Prepare the summary entry for the amount of cash paid to merchandise suppliers during $2024.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.