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Record a journal entry for each of the following transactions: A U.S.-based MNC invests $800 million in a factory located in South Africa and finances
Record a journal entry for each of the following transactions:
- A U.S.-based MNC invests $800 million in a factory located in South Africa and finances the project by issuing bonds in Germany.
- A Mexican company sells $5 million worth of goods to an Arizona company and deposits the check in a bank in Scottsdale.
- The Bank of Denmark purchases 1.3 billion dollars in the foreign exchange market to hold down the value of the krone and uses these dollars to buy U.S. Treasury bonds.
- A U.S.-based MNC pays $9 million in dividends to foreign residents. Those residents decide to hold the dividends in bank deposits in New York.
- A U.S. car manufacturer exports $110 million of cars to the Philippines and receives payment in the form of a check drawn on a U.S. bank.
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