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Johnson Mills reported the following information in its 2015 financial statements ($ in millions): 2015 2014 Balance Sheets: Accounts receivable, net $ 2,348.2 $ 1,775.4
Johnson Mills reported the following information in its 2015 financial statements ($ in millions):
2015 | 2014 | |||||
Balance Sheets: | ||||||
Accounts receivable, net | $ | 2,348.2 | $ | 1,775.4 | ||
2015 Income statement: | ||||||
Sales revenue | $ | 18,678.6 | ||||
A note disclosed that the allowance for uncollectible accounts had a balance of $33.4 million and $32.5 million at the end of 2015 and 2014, respectively. Bad debt expense for 2015 was $22.8 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).)
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