Mamsa Nigeria Limited issued 20 000 ordinary shares of N1.50 per share on 2nd July 2002.
1500 ordinary shares were fully subscribed for and their monies received as below:

On application ....................N0.40
On allotment .......................N0.20
First call (including premium ofN0.50)..N0.70

What is the balance of the ordinary share capital account after the first call was received?

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