The Following Journal Entries with the Amounts Omitted Were Taken $\quad$

question 92

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

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Definitions:

Total Benefits

The complete set of advantages, monetary or otherwise, received from the consumption or use of a good or service.

Textile Industry

A sector of the economy focused on the production of yarn, cloth, and clothing, and the various processes involved in the manufacture of textiles.

Economic Policy

Strategies and decisions made by governments and central banks to influence the economy, including fiscal policy, monetary policy, and regulatory measures.

Producers Better Off

A condition where producers experience an improvement in profitability or market position, often due to increased demand or reductions in costs.