The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to the following information: Sales at $650,000, all for cash. Merchandise inventory on November 30 was $300,000. The cash balance at December 1 was $38,000. Selling and administrative expenses are budgeted at $120,000 for December and are paid in cash. Budgeted depreciation for December is $65.000. The planned merchandise inventory on December 31 is $330,000. 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