Miller Company reported the following information in its 2020 financial statements ($ in millions):   2020 2019 Balance Sheet:     Accounts receivable, net $ 2,448.4 $ 1,825.6 Income statement:     Sales revenue $ 18,779.1   A note disclosed that the allowance for uncollectible accounts had a balance of $34.9 million and $33.7 million at the end of 2020 and 2019, respectively. Bad debt expense for 2020 was $24.0 million. Required: Determine the amount of cash collected from customers during 2020.

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Miller Company reported the following information in its 2020 financial statements ($ in millions):

  2020 2019
Balance Sheet:    
Accounts receivable, net $ 2,448.4 $ 1,825.6
Income statement:    
Sales revenue $ 18,779.1  

A note disclosed that the allowance for uncollectible accounts had a balance of $34.9 million and $33.7 million at the end of 2020 and 2019, respectively. Bad debt expense for 2020 was $24.0 million.

Required:

Determine the amount of cash collected from customers during 2020.

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