Question 2 A customer was invoiced in euros. At the time it was valued at $325 in the home currency of USD, but the euro has recently weakened compared to the dollar. Payment received was the equivalent of $320 when the euro invoice was marked as fully paid. Which entries are made in this scenario? 1. Debit Bank $325, Credit Accounts Receivable $325, Debit Exchange Rate Gains and Losses $5, Credit Bank $5 2. Debit Bank $320, Debit Exchange gains and loss $5, Credit Accounts Receivable $325 3. Credit Bank $325, Debit Accounts Receivable $325, Credit Exchange rate gains and losses $5, Debit Bank $5 4. Credit Bank $320, Debit Exchange gains and loss $5, Debit Accounts Receivable $325