Response to the following problem:
The general ledger of MPX, inc provides the following information relating to purchases of merchandis: End of year Inventory was $820,000, Accounts payable to merchandise suppliers was $430,000, Begining of year, Invertory was $780,000, and accounts payable to merchandise suppliers was $500,000. The company cost of goods sold for the year was $2.975,000.
Compute the amount of cash payments made during the year to suppliers of merchandise.