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 $374,100 May 410,400 lune 416,200 Wight typically Days 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? 381,760 X 2. How much cash is expected for payments on account in June? 412,160 X

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