Your Company's sales are 25% in cash and the rest on credit. Fifty percent of the credit sales are collected in the month of sale, 25% in the month following sale, and 20% in the second month following sale. The remainder are uncollectible. The following are budgeted sales data: January February March April Total sales $70,000 $80,000 $50,000 $40,000 What are the total cash receipts in the March budget? $48,750 $56,750 O 544,250 $61,750