Queen records its transactions in U.S. dollars. A sale of goods resulted in a receivable denominated in UK pounds, and a purchase of goods resulted in a payable denominated in Euros. Queen recorded a foreign exchange transaction gain on collection of the UK pound receivable and an exchange transaction loss on the settlement of the Euros payable. Did the US dollar weaken or strengthen against those respective currencies? US dollar against the UK Pound US dollar against the Euro A. weakened strengthened weakened weakened strengthened weakened D. strengthened strengthened 4 A) A B) B C) C D D