Baltimore Baking is preparing its cash budget and expects to have sales of $50,000 in January, $35,000 in February, and $45,000 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.