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

• Sales at $500,000, all for cash.
• Merchandise inventory on November 30 was $225,000.
• The cash balance at December 1 was $23,000.
• Selling and administrative expenses are budgeted at $75,000 for December and are paid in cash.
• Budgeted depreciation for December is $35,000.
• The planned merchandise inventory on December 31 is $255,000.
• 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: