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How much cash is required for payments on account in may

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Reference no: EM132972384

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 410,000

June 415,200

Wight typically pays 30% on account in the month of billing and 70% the next month.

Required:

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

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

Reference no: EM132972384

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