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The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to the following information: - Sales at $540,000, all for cash. - Merchandise inventory on November 30 was $245,000. - The cash balance at December 1 was $27,000. - Selling and administrative expenses are budgeted at $87,000 for December and are paid in cash. - Budgeted depreciation for December is $43,000. - The planned merchandise inventory on December 31 is $275,000. - The cost of goods 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: The budgeted cash receipts for December are: Multiple Choice $540,000 $405,000 $583,000 $135.000