Company M
Company M Reported the Following Information -Refer to the Figure Company M

Company M
Company M reported the following information:
$\begin{array}{lr}\text { Accounts payable, December 31, Year 1 } & \$ 60,000 \\\text { Accounts payable, December 31, Year 2 } & 80,000 \\\text { Inventory, December 31, Year 1 } & 45,000 \\\text { Inventory, December 31, Year 2 } & 60,000 \\\text { Cost of goods sold-Year 2 } & 1,000,000\end{array}$

-Refer to the figure Company M.All merchandise purchases were on account.How much cash was paid to suppliers for merchandise purchases during Year 2?

A) $995,000
B) $1,005,000
C) $1,020,000
D) $1,050,000