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8 General Mills reported the following information in its 2020 financial statements ( $ in millions): A note disclosed that the allowance for uncollectible accounts
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General Mills reported the following information in its 2020 financial statements ( $ in millions): 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 ) Step by Step Solution
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