Nickleson Company had an unadjusted cash balance of $7,898 as of May 31. The companys bank statement, also dated May 31, included a $79 NSF check written by one of Nicklesons customers. There were $1,003 in outstanding checks and $250 in deposits in transit as of May 31. According to the bank statement, service charges were $95, and the bank collected an $1,450 note receivable for Nickleson. The bank statement also showed $9 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.)