Nickleson Company had an unadjusted cash balance of $4,637 as of May 31. The company's bank statement, also dated May 31, included a $65 NSF check written by one of Nickleson's customers. There were $1,046 in outstanding checks and $205 in deposits in transit as of May 31. According to the bank statement, service charges were $80, and the bank collected an $1,150 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.) True cash balance