Sheridan Company had checks outstanding totaling $27200 on its June bank reconciliation. In July, Sheridan Company issued checks totaling $196100. The July bank statement shows that $132600 in checks cleared the bank in July. A check from one of Sheridan Company's customers in the amount of $1500 was also returned marked "NSF." The amount of outstanding checks on Sheridan Company's July bank reconciliation should be?

- $89200.

- $36300.

- $63500.

- $90700.