Describe how each of the following transactions affects the U.S. Balance of Payments. (Recall that each transaction gives rise to two entries in the Balance-of-Payments Accounts.) 1. Jorge Ramrez, a landscape architect residing in Monterrey, Mexico, works for three months in Durham, NC, creating an indoor garden for a newly built museum and receives wages for $35,000. 2. Jinill Park's mother, a resident of South Korea, pays her son's tuition to Columbia University via a direct deposit. 3. Columbia University buys several park benches from Spain and pays with a $ 120,000 check. 4. Floyd Townsend, of Tampa Florida, buys 5,000 dollars worth of British Airlines stock from Citibank New York, paying with U.S. dollars. 5. A French consumer imports American blue jeans and pays with a check drawn on J.P. Morgan Chase Bank in New York City.