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Nickleson Company had an unadjusted cash balance of $ 6 , 2 2 7 as of May 3 1 . The company's bank statement, also
Nickleson Company had an unadjusted cash balance of $ as of May The company's bank statement, also dated May
included a $ NSF check written by one of Nickleson's customers. There were $ in outstanding checks and $ in deposits in
transit as of May According to the bank statement, service charges were $ and the bank collected a $ note receivable for
Nickleson. The bank statement also showed $ of interest revenue earned by Nickleson.
Required:
Determine the true cash balance as of May Hint: It is not necessary to use all of the preceding items to determine the true balance.
Answer is complete but not entirely correct.
True cash balance
$
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