Solution-Classified and recorded in the debit and credit of

Classified and recorded in the debit and credit of the u.s.

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Explain how each of the following transactions will be classified and recorded in the debit and credit of the U.S. balance of payments:

(1) A Japanese insurance company purchases U.S. Treasury bonds and pays out of its bank account kept in New York City.

(2) A U.S. citizen consumes a meal at a restaurant in Paris and pays with her American Express card.

(3) A Indian immigrant living in Los Angeles sends a check drawn on his L.A. bank account as a gift to his parents living in Bombay.

(4) A U.S. computer programmer is hired by a British company for consulting and gets paid from the U.S. bank account maintained by the British company.

Reference no: EM13319607

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Classified and recorded in the debit and credit of the u.s.

Reference no: EM13319607

Reference no: EM13319607

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