6 The Bandera Corporation, merchandising firm has budgeted its activity for Decender according to the wingi Sales at $500,000 Merchandise invertory on November 30 was $250,000 The cash balance at December 1 was $28.000 Seling and administrative expenses are budgeted at $90,000 for December and are paid in cash Budgeted deprecation for December is $45,000 The plannet merchandise Inventory on December 21 $280.000 The cost of goods sold is 70% of the sales price All chases af There no rest expense or income tax expense The budgeted cash receipts for December ar Malpe Chee O 000 $45.000 $560,000 105000