Ace Service Company had checks outstanding totaling $$34,000$ on its May bank reconciliation. In June, Ace issued checks totaling $$212,800.$ The June bank statement shows that $$158,400$ in checks cleared the bank in June. A check from one of Ace's customers in the amount of $$1,600$ was also returned marked $"$NSF$."$ The amount of outstanding checks on Ace's June bank reconciliation should be

$$86,800.$

$$54,400.$

$$88,400.$

$$20,400.$