Nickleson Company had an unadjusted cash balance of $4,378 as of May 31. The companys bank statement, also dated May 31, included a $88 NSF check written by one of Nicklesons customers. There were $1,000 in outstanding checks and $265 in deposits in transit as of May 31. According to the bank statement, service charges were $35, and the bank collected an $1,000 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.)