Calculator 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 411,000 June 415,600 Wight typically pays 20% on account in the month of billing and 80% 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