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 May June $373,000 411,100 416,900 Wight typically pays 40% on account in the month of billing and 60% 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?