On April 1, 2023, Shannon Company, a U.S. company, borrowed…

On April 1, 2023, Shаnnоn Cоmpаny, а U.S. cоmpany, borrowed 100,000 euros from a foreign bank by signing an interest-bearing note due April 1, 2024. The dollar value of the loan was as follows: Date Amount April 1, 2023 $ 97,000 December 31, 2023 103,000 April 1, 2024 105,000 Angela, Incorporated, a U.S. company, had a euro receivable from exports to Spain and a British pound payable resulting from imports from England. Angela recorded foreign exchange gain related to both its euro receivable and pound payable. Did the foreign currencies increase or decrease in dollar value from the date of the transaction to the settlement date?   Euro Pound A) Increase Increase B) Increase Decrease C) Decrease Decrease D) Decrease Increase E) No change Decrease