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

• Sales at $550,000, all for cash.
• Merchandise inventory on November 30 was $250,000.
• The cash balance at December 1 was $28,000.
• Selling and administrative expenses are budgeted at $90,000 for December and are paid in cash.
• Budgeted depreciation for December is $45,000.
• The planned merchandise inventory on December 31 is $280,000.
• 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:

A. $595,500

B. $415,000

C. $135,000

D. $550,000