1.30 Adjusting Entry at Balance Sheet Date McDonald's Corporation has the following receivables and payables denominated in foreign currencies, prior to closing on December 31 Item Current s balance FC balance December 31 spot rate 1. Receivable $1,165,000 1.000.000 euros 51.18 2. Receivable 512.500 500.000 swiss francs 1.04 3. Payable 1.920,000 1,500,000 pounds 4 Payable 270,000 2,000,000 Hong Kong dollars 0.13 Required Prepare the adjusting entry recorded by McDonald's Corporation at December 31 Description Debit Credit Accounts receivable Exchange gain 0 Accounts payable 0 OX 0