Cornerstone Exercise $9-12$ Preparing an Accounts Payable Schedule

Demir Inc. purchases raw materials on account for use in production. The direct materials pur$-$

chases budget shows the following expected purchases on account:

Demir typically pays $20$ percent on account in the month of billing and $80$ percent in the next month.

Required:

How much cash is required for payments on account in May?

How much cash is expected for payments on account in June?