During the 2019 accounting period, a retail company had the following data:

It made $560,000 worth of product sales, which is split in the following way:

• Cash received $500,000
• On credit (not yet collected) $60,000

It made $320,000 worth of expenses, which are split in the following way:

• Cash paid $300,000
• On credit (not yet paid) $20,000

This is the first year of business, no business was conducted prior to 2019.

What will the 2019 ending balance be for the accounts receivable line item?