On Saturday, June 30, BD Pool Supplies sold merchandise to E. Luang on account. The sales price was $7,900, and the cost of goods sold was $6,500. 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 $7,900.
	Overstated by $6,500.
	Overstated by $1,400.
	Not affected, but the net income for July is understated.