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Nickleson Company had an unadjusted cash balance of $ 6 , 1 5 7 as of May 3 1 . The company's bank statement, also

Nickleson Company had an unadjusted cash balance of $6,157 as of May 31. The company's bank statement, also dated May 31, included a $87 NSF check written by one of Nickleson's customers. There were $697 in outstanding checks and $270 in deposits in transit as of May 31. According to the bank statement, service charges were $100, and the bank collected a $700 note receivable for Nickleson. The bank statement also showed $16 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.)
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