Calculate the amount of cash paid to suppliers for purchases of inventory during 2005 ATTACHMENT PREVIEW Download attachment Course Hero Question Quiz 4 #7.docx The following selected account balances were taken from Buckeye Company’s general ledger at January 1, 2005 and December 31, 2005: January 1, 2005 Inventory Accounts payable Salaries payable Investments Accounts receivable Land Mortgage payable Common stock Retained earnings December 31, 2005 52,000 40,000 3,000 68,000 83,000 58,000 120,000 100,000 22,000 49,000 71,000 9,000 75,000 56,000 88,000 95,000 180,000 35,000 The following information was taken from Buckeye Company’s 2005 income statement: Sales revenue Cost of goods sold Salaries expense Net income $420,000 300,000 94,000 $ 26,000 Calculate the amount of cash paid to suppliers for purchases of inventory during 2005. Do not use decimals in your answer.