Wilson, Inc., a U.S. company entered into the following transactions with customers in foreign countries.

October 4, 2019	Sold merchandise on credit to customer C of Chile for 2,000,000 pesos. The exchange rate is $0.0014.
October 18, 2019	Sold merchandise to customer G of Germany for 20,000 euros. The exchange rate is $1.12.
November 23, 2019	Sold merchandise on credit to customer SK of South Korea for 5,000,000 won. The exchange rate is $0.00083.
November 30, 2019	Received customer Cs payment in pesos for its October 4 purchase. The exchange rate for pesos is $0.0012.
December 13, 2019	Sold merchandise on credit to customer CH of China for 600,000 yuan. The exchange rate is $.14
December 31, 2019	Recorded adjusting entries to recognize exchange gains or losses on Wilsons annual financial statements. Rates for exchanging foreign currencies on this date follow: Chilean pesos $0.014 Chinese yuan 0.13 Euro 1.12 South Korean won 0.00086
January 24, 2020	Received customer SKs payment in won for its November 23 purchase. The exchange rate for won is $0.00085.
February 7, 2020	Received customer CHs payment in yuan for its December 13 purchase. The exchange rate for yuan is $0.15

Required:

1. Prepare journal entries for Wilsons transactions and adjusting entries. Round amounts to the nearest dollar.
2. Compute the net foreign exchange gain (loss) reported for these transactions in 2019.
3. Compute the net foreign exchange gain (loss) reported for these transactions in 2020.