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:...

Extracted text: 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 $374,300 May 411,600 June 416,100 Wight typically pays 35% on account in the month of billing and 65% the next month. Required: 1. How much cash is required for payments on account in May? 2$ 2. How much cash is expected for payments on account in June?