For Each of the Following, Identify in Column 1 the Category

question 16

Essay

For each of the following, identify in column 1 the category to which the account belongs, in column 2 the normal balance for the account, and in column 3 the financial statement on which the account balance is reported.
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Definitions:

Global Trade

The exchange of goods, services, and capital across international borders or territories.

Payment Instruments

Various methods available for transferring money or settling transactions, including cash, checks, credit cards, and electronic transfers.

Free Trade Agreements

International pacts between two or more countries to reduce barriers to imports and exports among them, promoting trade.

NAFTA

The North American Free Trade Agreement, a treaty entered into by the United States, Canada, and Mexico, aimed at eliminating trade barriers and promoting economic integration among these countries.