X Limited recorded the following information in its books of account.
1 issue of 10000 ordinary shares of $1 each at a price of $\$ 1.80$
2 payment of dividends, $\$ 6200$
3 transfer to general reserve, $\$ 7500$
What was the effect on total revenue reserves?
$\$ 6200{\text{ }}decrease$
2 )
$\$ 6700{\text{ }}increase$
3 )
$\$ 8000{\text{ }}increase$
4 )
$\$ 13700{\text{ }}decrease$
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