Question: Exercise 7 - 1 8 ( Static ) Uncollectible accounts; allowance method; solving for unknowns; General Mills [ LO 7 - 5 , 7 -

Exercise 7-18(Static) Uncollectible accounts; allowance method; solving for unknowns; General Mills [LO7-5,7-6]
General Mills reported the following information in its 2020 financial statements ($ in millions):
20202019
Balance Sheet:
Accounts receivable, net $ 1,615.1 $ 1,679.7
Income statement:
Sales revenue $ 17,626.6
A note disclosed that the allowance for uncollectible accounts had a balance of $33.2 million and $28.8 million at the end of 2020 and 2019, respectively. Bad debt expense for 2020 was $25.9 million.
Required:
Determine the amount of cash collected from customers during 2020.
Note: 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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