Explain how the following transaction makes two entries(a credit and a debit) in the balance of payments of Canada. Explain in which account each entry is recorded. a) An Indian citizen working in Vancouver makes a money transfer back to his family in India. b) A Canadian firm operating in USA, buys 1 million USD worth of computers for its workers. It pays the computers by getting a loan from a local bank. c) A Canadian firm exports 10 million USD worth of lumber to a US construction firm. The construction firm is given 90 days to pay

Explain how the following transaction makes two entries(a credit and a debit) in the balance of payments of Canada. Explain in which account each entry is recorded. a) An Indian citizen working in Vancouver makes a money transfer back to his family in India. b) A Canadian firm operating in USA, buys 1 million USD worth of computers for its workers. It pays the computers by getting a loan from a local bank. c) A Canadian firm exports 10 million USD worth of lumber to a US construction firm. The construction firm is given 90 days to pay

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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