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 May $373,200 412,000 417,000 June Wight typically pays 30% on account in the month of billing and 70% 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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