The following journal entries with the amounts omitted were taken from the records of Lena Company:
1. Cash
Contributed Capital
2. Inventory
Accounts Payable
3. Accounts payable
Cash
4. Buildings
Cash
Mortgage Payable
5. Retained Earnings
Dividends Payable
6. Cash
Notes Payable Requirement:
Write a brief explanation for each of the above transactions.
Correct Answer:
Verified
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