Shown below in T-account format are the beginning and ending balances ($ in millions) of both inventory and accounts payable.

Inventory

Beginning balance	90
Ending balance	93

Accounts Payable

			14	Beginning balance
			16	Ending balance

Required:

1.	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 $300 million. (Enter your answer in millions.)

2	Prepare a summary entry that represents the net effect of merchandise purchases during the reporting period. (If no entry is required for a particular event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)