On 1 January 2014 Manbobbie Ltd Decided to Issue 40

Multiple Choice

On 1 January 2014 Manbobbie Ltd decided to issue 40 000 shares to the public, payable as follows:
50 cents initially on application
20 cents payable within one month of allotment
30 cents payable in calls due 30 September 2015.
Assuming the issue was fully subscribed and all amounts due were received by 30 June 2014. The balance of the Share Capital account on that date was:

A) $20 000.
B) $40 000.
C) $28 000.
D) $12 000.