Exercise 6-12A (Algo) Determining the true cash balance, starting with the unadjusted book balance LO 63 Nickleson Company had an unadjusted cash balance of $6,698 as of May 31, The company's bank statement, also dated May 31, included a $59 NSF check written by one of Nickleson's customers. There were $926 in outstanding checks and $215 in deposits in transit as of May 31. According to the bank statement, service charges were $50, and the bank collected an $1,400 note receivable for Nickleson. The bank statement also showed $24 of interest revenue earned by Nickleson. Required: Determine the true cash balance as of May 31. (Hint it is not necessary to use all of the preceding items to determine the true balance.)