Whitney Corporation
Whitney Corporation,a Reseller of Women's Fashions,has Budgeted Its $\$ 350,000 .$

Whitney Corporation
Whitney Corporation,a reseller of women's fashions,has budgeted its activity for March.The budget information is presented below:
I. Sales are $\$ 350,000 .$ All sales are cash
II.Merchanchise inventory on February 28 is $\$ 300,000$
III.Buclgeted depreciation for March is $\$ 35,000$ .
IV.Cash in bank on March 1 is $\$ 25,000$ .
V. Selling and administrative expenses are buclgeted at $\$ 60,000$ for March and are paid in cash
VI. The planned merchandise inventory on March 31 is $\$ 270,000$ .
VII. The invoice cost for merchandise purchases represents $75 \%$ of sales price. All purchases are paid for in cash

Refer to Whitney Corporation.The budgeted cash receipts for March are:

A) $412,500
B) $137,500
C) $585,000
D) $550,000