Explain how each of the following transactions will be classified and recorded in the debit and credit of the U.S. balance of payments:

(1) A Japanese insurance company purchases U.S. Treasury bonds (2) A U.S. citizen consumes a meal at a restaurant in Paris (3) An Indian immigrant living in Los Angeles sends a check as a gift to his parents living in Mumbai. (4) A U.S. computer programmer is hired by a British company for consulting