Unit 8 AS: Exercises and Problems (Connect) 10 7 points Seved Shown below in T-account format are the beginning and ending balances ($ in millions) of both inventory and accounts payable. Beginning balance Ending balance Inventory 110.0 115.0 Accounts Payable. 32.0 Beginning balance 35.8 Ending balance eBook Print References 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 $280 million. 2. Prepare a summary entry that represents the net effect of merchandise purchases during the reporting period. Complete this question by entering your answers in the tabs below. Required 1 Required 2 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 $280 million. (Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Cash paid to suppliers million