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 Wight typically pays 35% on account in the month of billing and 65% the next month. Required: 1. How much cash is required for payments on account in May? $374,200 411,300 416,900 2. How much cash is expected for payments on account in June