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Determine the true cash balance as of may

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Question - Nickleson Company had an unadjusted cash balance of $5,949 as of May 31. The company's bank statement, also dated May 31, N included an NSF check in the amount of $51 written by one of Nickleson's customers. There were $647 in outstanding checks and $245 in deposits in transit as of May 31. According to the bank statement, service charges were $40, and the bank collected a note receivable of $750 for Nickleson. The bank statement also showed $19 of interest revenue earned by Nickleson. Determine the true cash balance as of May 31.

Reference no: EM133135552

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