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Johnson Mills reported the following information in its 2015 financial statements ($ in millions): 2015 2014 Balance Sheets: Accounts receivable, net $ 2,248.0 $ 1,725.2
Johnson Mills reported the following information in its 2015 financial statements ($ in millions):
2015 | 2014 | |||||
Balance Sheets: | ||||||
Accounts receivable, net | $ | 2,248.0 | $ | 1,725.2 | ||
2015 Income statement: | ||||||
Sales revenue | $ | 18,578.1 | ||||
A note disclosed that the allowance for uncollectible accounts had a balance of $31.9 million and $31.3 million at the end of 2015 and 2014, respectively. Bad debt expense for 2015 was $21.6 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 Collections = ????
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