Question: 2. Classify the following transactions and enter them into the U.S. balance of payments: a. An American tourist travels to Frankfurt and spends $1,000 on

2. Classify the following transactions and enter them into the U.S. balance of payments: a. An American tourist travels to Frankfurt and spends $1,000 on hotel, bratwurst, and beer. He pays with a check drawn on a Tulsa, Oklahoma, bank. b. Mercedes-Benz in Germany sells $400,000 of its cars to a U.S. distributor, allowing for 90-day trade credit until payment is due. c. Herr Schmidt in Germany receives a $100 check, drawn on a U.S. bank, from his grandson in New York as a birthday gift. d. A resident in Sun City, Arizona, receives a $2,000 dividend check from a German company. The check is from a German bank e. The U.S. government donates $100,000 worth of wheat to Germany
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