IPHONE RECOVERY MODE AFTER WATER DAMAGE?

So the one night i got pushed in the pool then got out as soon as i realized my new iphone was in my pocket.id say it was only wet for 20-30 seconds. When i got out this girl dried it off, and did some thing to make it turn on, i was so happy it was on but then the touch screan wasn't working… And then it shut off later on (i think the battery died) so i left it on the counter for about 4 hours until i found rice, then i put it in rice for exactly 2 days, i just took it out now and it's dead. So i plugged it into my computer and a sign said "itunes has detected an iphone recovery mode. You must restore this iphone before it can be used with itunes" what will restoring do to it? Will it delete my pictures? Apps? Music? Etc and will my phone be fixed or no?

I have an iPhone myself
And hopefully this will never happen to me you did good by getting right of the pool and drying it off and putting it in rice. I had a teacher and the same thing happened to him and he didn't have a warranty so he went to the apple store and was saying what happened and how he was mad because he loved the phone so much and they handed him a new iPhone right then and there free of charge also you could ask a person on apple.com about what you should do.

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