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	$373,200
May	411,300
June	416,400

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? $fill in the blank 1

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