General Mills reported the following information in its 2009 financial statements ($ in millions): Real World Financials

Question:

General Mills reported the following information in its 2009 ($ in millions):

General Mills reported the following information in its 2009 fin

Real World Financials
A note disclosed that the allowance for uncollectible accounts had a balance of $18 million and $16 million at the end of 2009 and 2008, respectively. Bad debt expense for 2009 was $14 million.

Required:
Determine the amount of cash collected from customers during2009.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...