11. 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 purchase on account April May P374,400 411,200 June 416,000 Wight typically pays 20% on account in the month of billing and 80% the next month. Required: a. How much cash is required for payment on account in May? b. How much cash is expected for payments on account in June