Highland Company sold goods to an Egyptian company for 350,000 Egyptian pounds on December 6, 20X3, with payment due on January 15, 20X4. The exchange rates were as follows:

-Based on the preceding information,which of the following is true of the dollar's movement vis-à-vis the Egyptian pound during the period?

Question

Highland Company sold goods to an Egyptian company for 350,000 Egyptian pounds on December 6, 20X3, with payment due on January 15, 20X4. The exchange rates were as follows:
 
-Based on the preceding information,which of the following is true of the dollar's movement vis-à-vis the Egyptian pound during the period?

Quizplus · Accepted Answer

The Answer of Highland Company sold goods to an Egyptian company for 350,000 Egyptian pounds on December 6, 20X3, with payment due on January 15, 20X4. The exchange rates were as follows:
 
-Based on the preceding information,which of the following is true of the dollar's movement vis-à-vis the Egyptian pound during the period?

Highland Company Sold Goods to an Egyptian Company for 350,000