Exercise 6-12A (Algo) Determining the true cash balance, starting with the unadjusted book balance LO 6-3 Nickleson Company had an unadjusted cash balance of $5,136 as of May 31. The company's bank statement, also dated May 31, Included a $63 NSF check written by one of Nickleson's customers. There were $1,061 in outstanding checks and $235 in deposits in transit as of May 31. According to the bank statement, service charges were $30, and the bank collected an $550 note receivable for Nickleson. The bank statement also showed $22 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.) True cash balance