Nickleson Company had an unadjusted cash balance of $6,697 as of May 31. The company's bank statement, also dated May 31 , included a \$74 NSF check written by one of Nickleson's customers. There were \$397 in outstanding checks and \$265 in deposits in transit as of May 31. According to the bank statement, service charges were $90, and the bank collected an $700 note receivable for Nickleson. The bank statement also showed $21 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.)