Exchange gains and losses are foreign exchange accounts set up for receiving and paying money. There is no need to set up a secondary account to adjust the customer's month-end balance, and it is adjusted according to the foreign exchange median price on the first day of each month. The adjusted balance is the amount of foreign exchange payable calculated according to the foreign exchange quotation of this month. No matter the exchange rate increases or decreases, it must be adjusted, so that the month-end balance reflected is true.

Introductory exercise

Debit: accounts receivable

Credit: exchange gains and losses

Or debit: exchange gains and losses

Credit: accounts receivable

As for the unadjusted part of the previous year, your income tax has been settled now, so it is meaningless to adjust it again. If you pursue taxes, you will have to admit punishment.