Germany Cameras sold merchandise for $76,000 cash during the month of July. Returns that month totaled $1,600. If the company's gross profit rate is 40%, Germany will report monthly net sales revenue and cost of goods sold of: 1) $ 76,000 and $44,640. 2) $74,400 and $44,640. 3) $76,000 and $45,600. 4) $74,400 and $29,760