Determine cash paid to suppliers of merchandise (LO21-3) Determine the amount of cash paid to suppliers of merchandise for each of the nine Independent situations below. All dollars are in millions. (Enter your answers in millions rounded to 1 decimal place (.e, 5,500,000 should be entered as 5.5).) Situation Cost of Goods sold Inventory Increase (Decrease) Accounts Payable Increase (Decrease) Cash Pald to Suppliers 145.0 0 0 1 2 145 145 4,8 (4.8) 3 145 4 0 0 0 9.7 (9.7) 9.7 5 6 145 145 145 145 145 145 7 0 4.8 4.8 (4.8) (4.8) (9.7) (9.7) 9.7 8 9

Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale.required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse.b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this.c. explain the difference between sale of receivables with recourse as oppose to without recourse.