Company B began its operations on 1/1/X4. For the month of January 20X4 Company B provided the following information regarding its activities and year-end estimates to support accrual accounting.

Began January with $16,000 of inventory which was contributed by the founding stockholder in exchange for 5,000 shares of common stock.

Total January X4 sales were $8,000 of which 25% were cash sales, the remaining sales were on account, none of which were collected by 1/31/X4. All of company B's sales were sold at a gross margin of 51%.

On 1/1/X4 Company B purchased a $10,000 vehicle on account which will be paid for in February X4. Company B estimates that the vehicle will be useful for 5 years and will have a residual value of $1,000. The company records monthly depreciation.

As of 1/31/X4, Company B estimated that 4% of all outstanding accounts receivable would never be collected.

Using your knowledge of accrual accounting, the accounting cycle and Excel to create an Excel model that computes the total of all debit balances that would appear on Company B's post-closing trial balance as of 1/31/X4. Enter the total of all debit balances (rounded to the nearest whole $) from the post-closing trial balance below AND click on the next link in Canvas where you will need to upload your Excel model to receive credit for this Question #5. If you do not upload an Excel model into Canvas you will not receive credit for your answer on this question.