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 Entry field with incorrect answer

$90700.

$89200.

$36300.

$63500.