17) The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to the following information: 17) Sales at $620,000, all for cash. Merchandise inventory on November 30 was $285,000. The cash balance at December 1 was $35,000. . Selling and administrative expenses are budgeted at $111,000 for December and are paid in cash. . Budgeted depreciation for December is $59,000 The planned merchandise inventory on December 31 is $315,000. . The cost ofgoods sold is 70% of the sales price. . All purchases are paid for in cash. There is no interest expense or income tax expense. The budgeted cash receipts for December are: A) S135,000 B) S679,000 C) $485,000 D) $620,000