Nickleson Company had an unadjusted cash balance of $7,743 as of May 31. The company's bank statement, also dated May 31, included a $72 NSF check written by one of Nickleson's customers. There were $714 in outstanding checks and $230 in deposits in transit as of May 31. According to the bank statement, service charges were $40, and the bank collected a $600 note receivable for Nickleson. The bank statement also showed $10 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.) True cash balance