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 $374,500 May 410,300 June 416,900 Wight typically pays 30% on account in the month of billing and 70% the next month. Required: 1. How much cash is required for payments on account in May? $ x 2. How much cash is expected for payments on account in June? Feedback Check My Work Incorrect