Nickleson Company had an unadjusted cash balance of $5,819 as of May 31. The company's bank statement, also dated May 31, included a $62 NSF check written by one of Nickleson's customers. There were $1,054 in outstanding checks and $280 in deposits in transit as of May 31 According to the bank statement, service charges were $80, and the bank collected an $1,000 note receivable for Nickleson. The bank statement also showed $5 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