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:

Month Amount

April $$373,800$

May $411,900$

June $416,000$

Wight typically pays $40\%$ on account in the month of billing and $60\%$ the next month.

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

Open spreadsheet

Required:

$1.$ How much cash is required for payments on account in May?

fill in the blank $1$ of $1$$