If an amount is paid to the Freeway Corporation on a demand made of a person under section 200—
(a) the Freeway Corporation must apply that amount to the trips identified in the demand that are specified by the person making the payment; or
(b) if the person does not specify the trips to which the amount is to be applied, the Freeway Corporation must apply that amount first to pay the earliest unpaid demand made of that person under that section and then to pay any later unpaid demands made of that person in the order in which the demands were made.