The Adams Corporation, a merchandising firm, has budgeted its activity for November according to the following information: l Sales at $450,000, all for cash. l Merchandise inventory on October 31 was $200,000. l The cash balance November 1 was $18,000. l Selling and administrative expenses are budgeted at $60,000 for November and are paid for in cash. l Budgeted depreciation for November is $25,000. l The planned merchandise inventory on November 30 is $230,000. l The cost of goods sold is 70% of the selling price. l All purchases are paid for in cash. l There's no interest expense or income tax expense. How much are the budgeted cash receipts for November? A. $135,000 B. $450,000 C. $475,000 D. $315,000