Problem 3 (Ammu [Uncle] Riad, 20 points) The practices of Lebanon's central bank ( BDL in French) have been controversial throughout the financial crisis. It is hard to tell if BDL is working to resolve things, or to make them worse. Take a look at BDL's latest balance sheet on the following page. One account that received wide attention lately is "Other Assets." In this account, BDL has been capitalizing the cost of its losses in supporting the expenses of the government for more than 30 years (e.g. for stabilizing the exchange rate, paying for fuel subsidy, supporting EDL - the national electricity company). The legal department at BDL justified this rogue accounting based on "national interest," in a twisted interpretation of the Lebanese law. Also interesting in BDL. balance sheet is the "Financial Sector Deposits" account which reports on banks lending their depositors money for BDL in another shady business called at the time "financial engineering." Now that the game is almost over, remedies are being considered. One solution is using the Gold asset to cover some of the losses, and to write-off the reminder ones. This will allow paying bank clients a small part of what they deposited, via the gold, and will pave the way for a "fresh start" with the Internationally Monetary Fund coming to town. Required a. Write the journal entries that allows writing-off "Other Assets" and "Financial Sector Deposits" using all the gold to pay bank depositors partially. (You will need to adjust the value of another asset in BDL. balance sheet.) b. Develop t