Exercise $2-50($Algorithmic$)$

Journalizing Transactions

Remington Communications has been providing cellular phone service for several years. During November and December, the following transactions occurred:

Nov. $2$ Remington received $$1,400$ for November phone service from Enrico Company.

$6$ Remington purchased $$4,850$ of supplies from Technology Associates on account.

$10$ Remington paid $$5,150$ to its hourly employees for their weekly wages.

$15$ Remington paid $$4,850$ to Technology Associates in full settlement of its account payable.

$28$ Remington paid $$1,150$ for utilities used during November.

$30$ Remington received a bill from Monticello Construction for $$2,230$ for repairs made to Remington's loading dock on November $15.$ Remington plans to pay the bill in early December.

Dec. $10$ Remington paid $$2,230$ to Monticello Construction to settle the repair bill received on November $30.$

Required:

Prepare a journal entry for each of the above transactions.

Nov. $2$

$($Record revenue earned$)$

$6$

$$

$$

$($Record purchase of supplies on account$)$