On January 31, 2034, Moxel Inc. negotiated a 2-year 600,000 Thai baht loan from a foreign bank at an interest rate of 7% per year. Interest payments are made annually on January 31tot (2035 and 2036), and the principal will be repaid on January 315t, 2036. Moxel Inc. prepares US dollar financial statements on December 31st of each year. Prepare all joumal entries related to this foreign borrowing assuming the following exchange rates