ABC Ltd was registered as a corporation on $1$ July $2023.$ On $4$ July $2023,$ ABC Ltd issued a prospectus offering $97789$ ordinary shares at an issue price of $$6$ each, payable $7\%$ on application and the balance on allotment.

Application closed on $1$ August $2023$ with the company having received applications for $139712$ shares. The shares were allotted on $15$ August $2023,$ with the over$-$subscription amount being refunded to unsuccessful applicants. All allotment monies were received by $31$ August $2023.$

After application, and prior to allotment, the balance in the Application account would be: