Question
Explain how the following items would be entered into the U. S. balance of payments. State Category Number; Entry and both Debit and Credit entries.
Explain how the following items would be entered into the U. S. balance of payments. State Category Number; Entry and both Debit and Credit entries. (40 points):
a. A disaster relief shipment of wheat from the U.S. to Bangladesh:
b. Imports of textile machinery from China
c. A $ 1,000,000 Japanese purchase of U. S. government bonds
d. Hotel expenses in Geneva by a U.S. tourist.
e. The purchase of a BMW automobile by a U.S. resident.
f. Interest earned on a bank account in London by a U.S. resident.
g. The Union Carbide (a U.S. corporation) purchase of a French chemical plant
h. Sales of lumber to Japan by a U.S. exporter.
i. The shipment of Fords to the United States from a Mexican production plant; and the profits from that same plant
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