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 $373,500 May 412,000 416,700 Wight typically pays 25% on account in the month of billing and 75% the next month, Requiredi 1. How much cath is required for payments on account in May? June 2. How much cash is expected for payments on account in June