Suppose that Northern Illinois Gas, a U.S. utility company, buys $34 million in natural gas from a Canadian firm. It does not pay in cash immediately but instead issues a promissory note saying that it will pay the bill (plus interest that will accrue over time) one year later.

For the U.S. balance of payments: make the two accounting entries (double-entry bookkeeping accounting) for the transaction, indicating:

1. Items.
2. Signs.
3. Values.