Question: Exercise 7 - 1 8 ( Static ) Uncollectible accounts; allowance method; solving for unknowns; General Mills [ LO 7 - 5 , 7 -
Exercise Static Uncollectible accounts; allowance method; solving for unknowns; General Mills LO
General Mills reported the following information in its financial statements $ in millions:
Balance Sheet:
Accounts receivable, net $ $
Income statement:
Sales revenue $
A note disclosed that the allowance for uncollectible accounts had a balance of $ million and $ million at the end of and respectively. Bad debt expense for was $ million.
Required:
Determine the amount of cash collected from customers during
Note: All sales are on credit. Enter your answer in millions rounded to decimal place ie should be entered as
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