The double-entry principle in the balance-of-payments How will the following transactions affect the U.S. balance-of-payments? For each transaction in the following table, indicate in which U.S. account it appears as a credit and in which account it appears as a debit.
Transaction Account with Credit Account with Debit Jen, an American tourist, stays at a Japanese hotel and pays $500 for it with her credit card issued by an American firm. Arielle, a French tourist, stays at a hotel in San Francisco and pays $400 for it with her debit card issued by a French bank. The United States forgives $100 million of debt owed by the government of Mexico.