Baltimore Baking is preparing its cash budget and expects to have sales of $50,000 in January, $35,000 in February, and $50,000 in March. If 20% of sales are for cash, 40% are credit sales paid in the month after the sale, and another 40% are credit sales paid 2 months after the sale, what are the expected cash receipts for March? Enter your answer rounded to two decimal places. Do not enter $ or comma in the answer box. For example, if your answer is $12,300.456 then enter as 12300.46 in the answer box.

In problem 2, Baltimore Baking (BB) assumed that all credit sales are paid in full, which is not realistic. BB studied its past credit sales and determined that 2.25% of its credit sales resulted in Bad Debts that were never collected. In addition, BB underestimated its forecast of March sales, which have now been revised upward to $75,000. Using the data from problem 2 with the two new assumptions of Bad Debt expense on its credit sales and a revised forecast of March sales, what is your revised estimate for the expected cash receipts for March? Enter your answer rounded to two decimal places. Do not enter $ or comma in the answer box. For example, if your answer is $12,300.456 then enter as 12300.46 in the answer box.