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Wight Inc. purchases raw materials on account for use in production. The direct materials purchases...

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Accounting

Wight Inc. purchases raw materials on account for use in production. The direct materials purchases budget shows the following expected purchases on account:

April $374,400
May 410,900
June 416,900

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? $

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

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