Exercise $4-12$A $($Algo$)$ Determining the true cash balance, starting with the unadjusted book balance LO

$4-3$

Nickleson Company had an unadjusted cash balance of $$6,247$ as of May $31.$ The company's bank statement, also dated May $31,$

included a $$96$ NSF check written by one of Nickleson's customers. There were $$1,261$ in outstanding checks and $$265$ in deposits in

transit as of May $31.$ According to the bank statement, service charges were $$30,$ and the bank collected a $$800$ note receivable for

Nickleson. The bank statement also showed $$19$ 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.$)$