Nickleson Company had an unadjusted cash balance of $8,522 as of May 31. The company's bank statement, also dated May 31, included an NSF check in the amount of $79 written by one of Nickleson's customers. There were $593 in outstanding checks and $205 in deposits in transit as of May 31. According to the bank statement, service charges were $75, and the bank collected a note receivable of $1,350 for Nickleson. The bank statement also showed $22 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