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Question 5. The double-entry principle for international transactions (a) The US has had a number of transactions happen. For each, indicate which account you credit
Question 5. The double-entry principle for international transactions
(a) The US has had a number of transactions happen. For each, indicate which account you credit and which one you debit. Alternatively, you can make a t-entry for every transaction.
The US government sends $200 worth of explosives detection equipment to Iraq, | Dr: Cr: |
Airbus buys a factory in Washington state from Boeing with cash, $ 400 | Dr: Cr: |
A Chinese executive of an American company receives her year-end bonus and uses it to buy a condo in Las Vegas | Dr: Cr: |
United carries a Swede across the Atlantic and deposits his payment on United's checking account at Svenska Handelsbanken | Dr: Cr: |
The US treasury buys some Mexican pesos from Citi | Dr: Cr: |
(b) Compose a statement of international transactions for the US based on the transactions in a.
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