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: