Exercise 12-2 During December of the current year, Teletex Systems, Inc., a company based in Seattle, Washington, entered into the following transactions: Dec. 10 12 Sold seven office computers to a company located in Colombia for 7,755,000 pesos. On this date, the spot rate was 330 pesos per U.S. dollar. Purchased computer chips from a company domiciled in Taiwan. The contract was denominated in 560,000 Taiwan dollars. The direct exchange spot rate on this date was $0.0425. (c) Your answer is partially correct. Try again. Prepare journal entries to record settlement of both open accounts on January 10. Assume that the direct exchange rates on the settlement dates were as follows: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Round answers to o decimal places, e.g. 5,125.) Colombia peso Taiwan dollar $0.00304 $0.0435 Date Account Titles and Explanation Debit Credit Jan. 10 Cash 23575 Transaction Gain 75 Accounts Receivable 23500 (To adjust accounts receivable) X Accounts Payable 23800 x Transaction Loss 560 > Cash 24360 (To adjust accounts payable) SHOW LIST OF ACCOUNTS