Northland Corporation Recorded £1,000,000 in Accounts Receivable for Sales to Customers

Multiple Choice

Northland Corporation recorded £1,000,000 in Accounts Receivable for sales to customers in the United Kingdom and recorded Accounts Payable of 2,000,000 yuan for product purchased from China. If Northland 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) Yuan appreciated,Pound depreciated
B) Yuan depreciated,Pound appreciated
C) Yuan appreciated,Pound appreciated
D) Yuan depreciated,Pound depreciated