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  3. accounting for trade in goods and services suppose

Accounting for trade in goods and services Suppose the following transactions occur during the current...

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Accounting

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Accounting for trade in goods and services Suppose the following transactions occur during the current year: Jake, a liquor store owner in the United States, orders 50 bottles of wine from a French at a price of $30 per bottle. Nathan, a U.S. citizen, buys 10 cases of Dutch beer at $35 per case from a liquor store in the United States. The store imported the product last year at the same price. A U.S. company sells 100 video-processor chips to a Chinese company at $10 per chip. Nathan, a U.S. citizen, pays $1, 100 for a computer he orders from (a U.S. company). Complete the following table by indicating how the combined effects of these transactions national accounts for the current year

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