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

question 135

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

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Definitions:

Sieve-Tube Members

Specialized cells in the phloem of higher plants that facilitate the transport of sugars and other nutrients from the leaves to the rest of the plant.

Parenchyma

A type of tissue in plants composed of living cells, often involved in photosynthesis, storage, and healing.

Xylem Cells

Plant cells that form part of the xylem tissue, responsible for the transport of water and dissolved minerals from the roots to the rest of the plant.

Water Transport

The movement of water and nutrients through a plant, from the roots to the leaves, via xylem and phloem.