Reference no: EM131748984

Question: Johnson Mills reported the following information in its 2015 financial statements ($ in millions):

                                         2015               2014

Balance Sheets:

Accounts receivable, net      $ 2,949.4       $ 2,076.6

2015 Income statement:

Sales revenue                   $ 19,281.6

A note disclosed that the allowance for uncollectible accounts had a balance of $42.4 million and $39.7 million at the end of 2015 and 2014, respectively. Bad debt expense for 2015 was $30.0 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)).