General Mills reported the following information in its 2009 financial statements ($ in millions): Real World Financials
Question:
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 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...
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Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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