Johnson Mills reported the following information in its 2015 financial statements ($ in millions):

	2015			2014
Balances:
Accounts receivable, net	ps	3,350.2		ps	2.277,4
Income statement 2015:
sales revenue	ps	19.683,6

In a note it was reported that the provision for uncollectible accounts had a balance of $48.4 million and $44.5 million at the end of 2015 and 2014, respectively. Bad debt expense for 2015 was $34.8 million.

Required:

Determine the amount of cash collected from customers during 2015. (All sales are on credit. )

Answer rating: 100% (QA)

To determine the amount of cash collected from customers during 2015 we need to calculat... View the full answer