good Afternoon
Appreciate it if someone can assist me with this sum query - I think the answer is sumif but I just cant seem to get it to work

I have a column of figures

A1 200
A2 100
A3 300

TOTAL 600

What I am trying to achieve is if id the total of column A is less than £500 then I want the asnwer to show as £500 but if it is more than £500 then I want the correct answer to show - in this example 600
Basically im trying to show a minimum charge of £500 as the answer if the column say only adds to 350

hopefully one of you clever people out there can help me !!

thanks