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What must have happened to each currency

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Question - Smith Inc., a U.S. company, recorded 10,000,000 Euros in Accounts Receivable for sales to customers in Germany and recorded Accounts Payable of 2,000,000 yen for product purchased from Japan. If Smith recorded a foreign currency exchange loss on its receivables and a foreign currency gain on its payables, what must have happened to each currency?

A. Euro appreciated, Yen appreciated

B. Euro appreciated, Yen depreciated

C. Euro depreciated, Yen depreciated

D. Euro depreciated, Yen appreciated

Reference no: EM132509965

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