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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

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A Chinese executive of an American company receives her year-end bonus and uses it to buy a condo in Las Vegas

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United carries a Swede across the Atlantic and deposits his payment on United's checking account at Svenska Handelsbanken

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Cr:

The US treasury buys some Mexican pesos from Citi

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(b) Compose a statement of international transactions for the US based on the transactions in a.

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