Question
13. How will the following transactions be recorded in US Balance of Payment Account? in which categatory? debit or credit? a) The US exports $2000
13. How will the following transactions be recorded in US Balance of Payment Account? in which categatory? debit or credit?
a) The US exports $2000 of goods to the UK in exchange for 1000 of services. The exchange rate is 1=$2.
b) US Boeing exports a $100 million aircraft to the British Airways. The British importer pays by debiting its US bank deposit account. The exchange rate is 1=$2.
c) US Boeing exports a $100 million aircraft to the British Airways. The British importer pays by debiting its UK bank deposit account, and transfer the money to the UK bank account of Boeing. The exchange rate is 1=$2
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