2. For the following transactions, indicate the accounting entries on the Balance of Payments of Country X, using debits and credits. Use the correct terminology for the accounts as we used in class. (30 points) A firm in Country X pays off (pays the balance in full) the balance of its corporate bonds, in which a resident investor of Country Y had invested. The firm pays $2500 in capital plus $500 in interest to cancel its debt with the investor from Country Y. A resident of Country Y buys a vacation house on the coast of Country X, paying $500,000 with funds received from a mortgage (hipoteca) from a bank in Country X. The Central Bank of Country X spends $100 million purchasing the currency of its own nation (Country X), paying for this purchase from its supply of Euros. A resident of Country X opens a bank account in Country Y with an initial deposit of $25,000. A resident of Country X visits friends in Country Y, and brings a gift to his friends who are hosting his visit, consisting of a box with bottles of the local aguardiente from his country (country X). A resident of Country X sells his investment in sovereign bonds in Country Y, and brings the proceeds of the sale back to Country X. 10% A resident investor of Country X receives dividends in his stock investment in Country Y, and the firm in Country Y pays him in additional stock rather than in cash. The State Petroleum Company of Country X buys put options on the Options Exchange of Country Y. The government of Country X forgives the debt of another country. A resident of Country X buys a futures contract from a seller who is resident of Country Y for the delivery of wheat in six months on the Futures Market of Country X.