Exercising and Food Diary equaling one pound or two?

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Hi everyone!! I have a question about exercise and dieting.
Lets say I burn 3500 calories in 7 days doing P90X .
While logging in to my food diary in 7 days my net calories were totaled to be 3500.

Does this mean I lost 2 pounds in one week? Or just 1 pound?
I hope this made sense.