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