On 1 January 2020 Maximus Ltd Decided to Issue 20

Multiple Choice

On 1 January 2020 Maximus Ltd decided to issue 20 000 shares to the public, payable as follows:
$2 on application
$2 within one month of allotment
$1 for calls due 30 September 2020.
Assuming the issue was fully subscribed and all amounts due were received by 30 June 2020. The balance of the Share Capital account on that date was:

A) $20 000.
B) $40 000.
C) $80 000.
D) $100 000.