The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to the following information:

Sales at $480,000, all for cash.

Merchandise inventory on November 30 was $215,000.

The cash balance at December 1 was $21,000.

Selling and administrative expenses are budgeted at $69,000 for December and are paid in cash.

Budgeted depreciation for December is $31,000.

The planned merchandise inventory on December 31 is $245,000.

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: