Modos Company Has Deposited $3,500 in Checks Received from Customers

Multiple Choice

Modos Company has deposited $3,500 in checks received from customers. It has written $1,400 in checks to its suppliers. The initial bank and book balance was $600. If $1,600 of its customers' checks have cleared, but only $600 of its own, calculate its float.

A) $1,200
B) $1,100
C) $300
D) $700