Contact Ltd Was Registered as a Corporation on 1 July

Contact Ltd was registered as a corporation on 1 July 2021. On 3 July 2021, Contact Ltd issued a prospectus offering 50 000 ordinary shares at an issue price of $5.00 each, payable $3.00 on application and $2.00 on allotment. Application closed on 1 August 2021 with the company having received applications for 60 000 shares. The shares were allotted on 15 August 2021, with the over-subscription amount being refunded to unsuccessful applicants. All allotment monies were received by 31 August 2021. Following the allotment, the balance in the Share Capital account would be:

A) $50 000 CR.
B) $150 000 CR.
C) $180 000 DR.
D) $300 000 DR.