The adjusted trial balance of Fargo Company as of July 31, 2014 is presented below. Notice that the total debits and credits for each account are indicated (including the beginning balances) rather than the usual account balance. For example, the cash account had transactions which resulted in a total of $67,700 debits (including the beginning balance) and a total of $55,400 credits. All adjusting entries have been made for the month of July 2014, except the adjustment for inventory. Fargo’s fiscal year end is June 30.
| Account | Debit | Credit |
| Cash | $67,700 | $55,400 |
| Accounts Receivable | 58,000 | 54,400 |
| Allowance for Doubtful Accounts | 700 | 1,100 |
| Inventory | 60,000 | |
| Prepaid Advertising | 1,200 | 400 |
| Office Supplies on Hand | 1,700 | 1,300 |
| Office Equipment | 22,000 | 1,500 |
| Accumulated Depreciation | 400 | 7,600 |
| Accounts Payable | 31,900 | 40,000 |
| Salaries Payable | 800 | |
| Interest Payable | 100 | |
| Dividends Payable | 4,000 | 8,200 |
| Notes Payable | 3,000 | 30,000 |
| Common Stock | 12,600 | |
| Paid-In Capital in Excess of Par | 20,000 | |
| Retained Earnings | 19,900 | |
| Dividends Declared | 7,200 | |
| Sales | 61,000 | |
| Sales Returns | 2,200 | |
| Sales Discounts | 500 | |
| Purchases | 42,000 | |
| Purchase Returns and Allowances | 900 | |
| Purchase Discounts | 400 | |
| Salaries Expense | 9,200 | |
| Office Supplies Expense | 1,300 | |
| Insurance Expense | 700 | |
| Advertising Expense | 600 | |
| Bad Debt Expense | 500 | |
| Miscellaneous Expense | 400 | |
| Depreciation Expense | 300 | |
| Interest Expense | 300 | |
| Gain on Sale of Office Equipment | 200 | |
| Totals | $315,800 | $315,800 |
If 90% of sales are made on credit and all returns were related to credit sales, what was the beginning balance in Accounts Receivable on July 1?
