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Nickleson Company had an unadjusted cash balance of $9,969 as of May 31....

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Accounting

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Nickleson Company had an unadjusted cash balance of $9,969 as of May 31. The company's bank statement, also dated May 31, included a $78 NSF check written by one of Nickleson's customers. There were $1,119 in outstanding checks and $275 in deposits in transit as of May 31. According to the bank statement, service charges were $30, and the bank collected a $1,100 note receivable for Nickleson. The bank statement also showed $18 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

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