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 $ 43,000 $ 21,500 accounts receivable 63,000 93,000 inventory 26,500 43,000 liabilities accounts payable $ 61,500 $ 75,000 additional information for 2018: net income was $273,000. depreciation expense was $33,000. sales totaled $830,000. cost of goods sold totaled $308,000. required: prepare the summary entry for the amount of cash paid to merchandise suppliers during 2018. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)