Oil and Buns issued to the public 1,300,000 ordinary shares of 75k at a price of #1.50k. Application and allotment were received for 900,000 shares at 25k each.
Determine the amount received on application and allotment
A.
#224,950
B.
#225,000
C.
#324,950
D.
#325,000
Correct Answer: Option B
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