Preparing an Accounts Payable Schedule Wight Inc. purchases raw materials on account for use in...
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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 $374,100 May 410,400 lune 416,200 Wight typically Days 25% on account in the month of billing and 75% the next month Required: 1. How much cash is required for payments on account in May? 381,760 X 2. How much cash is expected for payments on account in June? 412,160 X
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