The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to the following information: 14 . Sales at $590,000, all for cash. Merchandise inventory on November 30 was $270,000. The cash balance at December 1 was $32,000. Selling and administrative expenses are budgeted at $102,000 for December and are paid in cash. Budgeted depreciation for December is $53,000 The planned merchandise inventory on December 31 is $300,000 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