Look at each of the cases below from the point of view of the balance of payments for the United States. Determine the s

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Look at each of the cases below from the point of view of thebalance of payments for the United States. Determine thesubcategory of the current account or financial account that eachtransaction would be classified in, and state whether it wouldenter as a credit or debit.
1. The U.S. government sells gold for dollars.
2. A migrant worker in California sends $500 home to his villagein Mexico.
3. An American mutual fund manager uses the deposits of his fundinvestors to buy Brazilian telecommunication stocks.
4. A Japanese firm in Tennessee buys car parts from a subsidiaryin Malaysia.
5. An American church donates five tons of rice to Sudan to helpwith famine relief.
6. An American retired couple flies from Seattle to Tokyo onJapan Airlines.
7. The Mexican government sells pesos to the United StatesTreasury and buys dollars.