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Johnson Mills reported the following information in its 2015 financial statements ($ in millions): 2015 2014 Balance Sheets: Accounts receivable, net $ 1,947.4 $ 1,574.6
Johnson Mills reported the following information in its 2015 financial statements ($ in millions):
2015 | 2014 | |||||
Balance Sheets: | ||||||
Accounts receivable, net | $ | 1,947.4 | $ | 1,574.6 | ||
2015 Income statement: | ||||||
Sales revenue | $ | 18,276.6 | ||||
A note disclosed that the allowance for uncollectible accounts had a balance of $27.4 million and $27.7 million at the end of 2015 and 2014, respectively. Bad debt expense for 2015 was $18.0 million. Required:
Determine the amount of cash collected from customers during 2015. (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).)
CASH COLLECTION _________________
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