General Mills reported the following information in its 2013 financial statements ($ in millions):

General Mills reported the following information in its 2013 financial statements ($ in millions):

	2013			2012
Balance Sheets:
Accounts receivable, net	$	2,949.4		$	2,076.6
2013 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 2013 and 2012, respectively. Bad debt expense for 2013 was $30.0 million.

Required:

Determine the amount of cash collected from customers during 2013.

Explanation

($ in millions) 

Allowance for uncollectible accounts:
Balance, beginning of year	$	39.7
Add: Bad debt expense		30.0
Less: End of year balance		(42.4	)
Write-offs during the year	$	27.3	*

Accounts receivable analysis:
Balance, beginning of year ($2,076.6 + 39.7)	$	2,116.3
Add: Credit sales		19,281.6
Less: Write-offs*		(27.3	)
Less: Balance end of year ($2,949.4 + 42.4)		(2,991.8	)
Cash collections	$	18,378.8

Thank you!