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.

1.Stockholders invested cash into the corporation in exchange for stock that was issued for more than par value.
2.Supplies were purchased from a supplier on account.
3.Cash was used to pay an account payable.
4.Buildings were purchased using cash and by signing a mortgage note payable for the balance.
5.The board of directors declared a cash dividend.
6.Cash was borrowed in exchange for signing a note payable.