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How much cash is expected for payments on account in june

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Reference no: EM132507477

Question a: 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 $375,000

May 410,700

June 416,500

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

Required:

Question a1. How much cash is required for payments on account in May?

Question a2. How much cash is expected for payments on account in June?

Reference no: EM132507477

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