Nickleson Company had an unadjusted cash balance of $5,588 as of May 31. The companys bank statement, also dated May 31, included a $87 NSF check written by one of Nicklesons customers. There were $1,450 in outstanding checks and $265 in deposits in transit as of May 31. According to the bank statement, service charges were $45, and the bank collected a $1,200 note receivable for Nickleson. The bank statement also showed $9 of interest revenue earned by Nickleson.

Required

Determine the true cash balance as of May 31