The Seagull S6 is often touted as, and probably is, the best beginner guitar as regards bang for buck at $400. It has great sound, stays in tune, and has a mahogany fretboard (soft wood is especially nice for beginners... you can focus more on playing, less on pain). If you think $400 is high, remember that it is an investment.
If you get a cheap-o guitar it will probably be more difficult to learn on (a poor neck will make playing harder than it need be , lose tuning pegs will be a constant frustration, etc) and might take some of the fun out of playing. Not to mention, when you do learn to play well you're going to want to ditch a cheap guitar for a nicer one much quicker than if you start with something decent to begin with. At the $300 range of still nice, but not quite so nice as the S6, you will find the Yamaha and Epiphone brands are probably the best of the bunch.
While you certainly don't need to spend $4,000 on a Martin or Taylor right off the bat, I wouldn't go for the guitars under $300 (Fender, Ovation, Ibanez, and Yamaha all make entry level cheap-o's). As you learn to play you will want an instrument that's actually fun to play on. For more options check the source links.
They list some of the more common entry level acoustics.
Honestly it depends how much you want to spend. Many first time guitar players end up quitting so I wouldn't spend a lot. I would suggest getting a Fender acoustic.
If you go to Guitar Center they have affordable packages that come with gig bags.
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