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Question 4 (of 10) Nickleson Company had an unadjusted cash balance of $4,586 as of May 31. The company's bank statement, also dated May 31,
Question 4 (of 10) Nickleson Company had an unadjusted cash balance of $4,586 as of May 31. The company's bank statement, also dated May 31, included a $58 NSF check written by one of Nickleson's customers. There were $1,453 in outstanding checks and $300 in deposits in transit as of May 31. According to the bank statement, service charges were $30, and the bank collected a $1,400 note receivable for Nickleson. The bank statement also showed $8 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.) rue caS HintsReferences eBook&Resources Hint#1
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