On Saturday, June 30, BD Pool Supplies sold merchandise to E. Luang on account. The sales price was $8,500, and the cost of goods sold was $8,180. The sales revenue was recorded immediately, but the entry recording the cost of goods sold was dated Monday, July 2. As a result, net income for June was: Overstated by $320. Overstated by $8,500. Overstated by $8,180. Not affected, but the net income for July is understated