Accounting Professionals Ltd was established in 2020 to provide clients with tax and accounting services. During year 2020, the company issued 10 000 ordinary shares at $50 per share. Purchase for the shares must be paid in instalments as following . $11 was payable on application $15 payable on allotment the remainder in calls. Management were pleasantly surprised that applications were received for 12.255 shares. The excess money received were offset against amounts due on allotment and any remaining funds (if appropriate) were offset against calls due. All amounts due on the shares were received from owners. except for the final call of $10 per share on a parcel of 2000 shares. These shares were forfeited by the company and subsequently reissued at $50, for payment of $45 per share ($5 discount per share). Any relevant amounts remaining from the forfeited shares were refunded to the defaulting shareholders. How much did Accounting Professionals Ltd receive as total application money on application date? IMPORTANT Do NOT put $ sign Not following instructions will end up with O for this question Previous Next