General Mills reported the following information in its 2015 financial statements ($ in millions): ...
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Accounting
General Mills reported the following information in its 2015 financial statements ($ in millions):
| 2015 | 2014 | ||||
| Balance Sheets: | |||||
| Accounts receivable, net | $ | 1,386.7 | $ | 1,483.6 | |
| 2015 Income statement: | |||||
| Sales revenue | $ | 17,630.3 | |||
A note disclosed that the allowance for uncollectible accounts had a balance of $25.3 million and $21.0 million at the end of 2015 and 2014, respectively. Bad debt expense for 2015 was $19.8 million. Required: Determine the amount of cash collected from customers during 2015. (All sales are on credit. Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).
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