Ignore the taxes and GST. AUD is the functional currency. The perpetual inventory system is used. Adjusting entries are prepared annually at the end of the financial year June 30. On june 25 retailer co sold inventory on account for cad 7600 cost AUD 5000 ( spot rate . AUD 1. = cad 0.95.) on june 30 retailer co still had not received the payment from the customer ( spot rate AUD 1 = cad 0.93) which of the following statement is true for retailer co ? A. In June 25th retailer co must cr sales revenue for $7220. 2. Gross profit from the sale on june 25= AUD 2600. 3. On june 30th retailer co must dr accounts receivable $152. 4. None of the answers given is correct