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

Monaco Company Partial Balance Sheets as of December 31

2018 2017

Assets

Cash $ 45,000 $ 22,500

Accounts receivable 65,000 95,000

Inventory 27,500 45,000

Liabilities

Accounts payable $ 62,500 $ 77,000

Additional information for 2018:

Net income was $275,000.

Depreciation expense was $35,000.

Sales totaled $850,000.

Cost of goods sold totaled $310,000.

Required: Prepare the summary entry for the amount of cash paid to merchandise suppliers during 2018.