Question:
General Mills reported the following information in its 2009 financial statements ($ in millions):
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2009
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2008
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Balance sheet:
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|
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Accounts Receivable (net)
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953
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1084
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2009 Income Statement:
Sales Revenue $4,271
Bad Debt Expense 14
A note disclosed that the allowance for uncollectible accounts had a balance of $18 million and $16 million at the end of 2009 and 2008, respectively.
Determine the amount of cash collected from customers during 2009.