Preparing an Accounts Payable Schedule Wight Inc purchases raw materials on account for use in production The direct materials purchases budget shows the following expected purchases on account April $374,800 May 410,100 June 416,200 Wight typically pays 25 on account in the month of billing and 75 the next month Required 1 How much cash is required for payments on account in May $ 2 How much cash is expected for payments on account in June $

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Question: Preparing an Accounts Payable Schedule Wight Inc. purchases raw materials on account for use in production. The direct materials purchases budget shows the following expected

Preparing an Accounts Payable Schedule

Wight Inc. purchases raw materials on account for use in production. The direct materials purchases budget shows the following expected purchases on account:

April	$374,800
May	410,100
June	416,200

Wight typically pays 25% on account in the month of billing and 75% the next month.

Required:

1. How much cash is required for payments on account in May? $

2. How much cash is expected for payments on account in June? $

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