Exercise 2-50 (Algorithmic) Journalizing Transactions Remington Communications has been providing cellular phone service for several years. During November and December, the following transact occurred: Nov. 2 Remington received $2,500 for November phone service from Enrico Company. 6 Remington purchased $5,450 of supplies from Technology Associates on account. 10 Remington paid $5,050 to its hourly employees for their weekly wages. 15 Remington paid $5,450 to Technology Associates in full settlement of its account payable. 28 Remington paid $3,050 for utilities used during November, 30 Remington received a bill from Monticello Construction for $830 for repairs made to Remington's loading dock on November 15. Remington plans to pay the bill in early December Dec. 10 Remington paid $830 to Monticello Construction to settle the repair bill received on November 30. Required: 1. Prepare a journal entry for each of the above transactions. Nov. 2 o (Record revenue earned) 6 Required: 1. Prepare a journal entry for each of the above transactions. Nov. 2 (Record revenue earned) 6 (Record purchase of supplies on account) 10 (Record payment of wages) 15 (Record payment on account) 28 15 (Record payment on account) 28 (Record use of utilities) 30 (Record repairs performed on account) Dec. 10 (To record payment on account) E. Conceptual Connection: What accounting principle did you apply in recording the November 10 transaction