119020 is the GL code for Account Receivables trade 3rd parties
Loss: Here you enter the GL code for exchange loss, which is realized
Gain: Here you enter the GL code for exchange gain, which is realized.
Val. loss 1: Here you enter the GL code for unrealized exchange Loss on revaluation of open items i.e. accounts receivable and accounts payable

Val. gain 1: Here you enter the GL code for unrealized exchange gain on revaluation of open items i.e. accounts receivable and accounts payable

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Bal.sheet adj.1 : Here you enter the GL code to which the receivable and payables adjustment is posted during foreign currency valuation of open items.
The SAP System supports two valuation areas in parallel. This account is used during valuation of the first valuation area.
The first valuation area reflects the local view of the Company code, the second valuation area takes the corporate policy for the valuation into consideration.