(Answered) Question preparing an accounts payable schedule wight inc

Accounting

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 purchases on account:

April $374,400

May 411,200

June 416,000

Wight typically pays 20 percent on account in the month of billing and 80 percent 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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