The following control account has been prepared by a trainee accountant:

Receivables ledger control account

$ $

Opening balance 308,600 Cash 147,200

Credit sales 154,200 Discounts allowed 1,400

Cash sales 88,100 Interest charged on overdue accounts 2,400

Contras 4,600 Irrecoverable debts 4,900

Allowance for receivables 2,800

Closing balance 396,800

555,500 555,500

What should the closing balance be when all the errors made in preparing the receivables ledger control accounthave been corrected?