Exercise 2-6 Analyzing account entries and balances LO A1

Use the information in each of the following separate cases to calculate the unknown amount.

On September 30, Valerian Co. had a $102,500 balance in Accounts Receivable. During October, the company collected $102,890 from its credit customers. The October 31 balance in Accounts Receivable was $89,000. Determine the amount of sales on account that occurred in October.