The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to the following information: Sales at $640,000, all for cash. Merchandise inventory on November 30...

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

• Sales at $640,000, all for cash.


• Merchandise inventory on November 30 was $295,000.


• The cash balance at December 1 was $37,000.


• Selling and administrative expenses are budgeted at $117,000 for December and are paid in cash.


• Budgeted depreciation for December is $63,000.


• The planned merchandise inventory on December 31 is $325,000.


• 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: