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Nickleson Company had an unadjusted cash balance of $6,910 as of May 31. The companys bank statement, also dated May 31, included a $89 NSF

Nickleson Company had an unadjusted cash balance of $6,910 as of May 31. The companys bank statement, also dated May 31, included a $89 NSF check written by one of Nicklesons customers. There were $710 in outstanding checks and $255 in deposits in transit as of May 31. According to the bank statement, service charges were $65, and the bank collected an $700 note receivable for Nickleson. The bank statement also showed $20 of interest revenue earned by Nickleson.

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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