The following journal entries with the amounts omitted were taken from the records of Lena Company:
Write a brief explanation for each of the above transactions.
Definitions:
Representativeness Heuristic
A cognitive shortcut that involves making judgments about the probability of an event under uncertainty, based on how much it resembles available prototypes.
Death Penalty
A legal punishment where an individual is put to death by the state as a penalty for a crime.
Representativeness Heuristic
A mental shortcut used when making judgments about the probability of an event under uncertainty, based on how similar it is to our stereotypes of similar occurrences.
New Zealand
is an island country in the southwestern Pacific Ocean, consisting of two main landmasses—the North Island, and the South Island—and numerous smaller islands.
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