Nickleson Company had an unadjusted cash balance of $7,326 as of May 31. The company's bank statement, also dated May 31 included an NSF check in the amount of $64 written by one of Nickleson's customers. There were $898 in outstanding checks and $260 in deposits in transit as of May 31. According to the bank statement, service charges were $95, and the bank collected a note receivable of S1,300 for Nickleson. The bank statement also showed 519 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.) Answer is complete but not entirely correct. 8,614 True cash balance