Exercise 2-52 Journalizing Transactions King Communications has been providing cellular phone service for several years. During November and December 2022, the following transactions occurred: Nov. 2 King received $2,400 for November phone service from Hanaman Company. 6 King purchased $4,750 of supplies from Technology Associates on account. 10 King paid $5,250 to its hourly employees for their weekly wages. 15 King paid $4,750 to Technology Associates in full settlement of the account payable. 28 King paid $2,150 for utilities used during November. 30 King received a bill from Stormont Construction for $1,230 for repairs made to King's loading dock on November 15. King plans to pay the bill in early December. Dec. 10 King paid $1,230 to Stormont Construction to settle the repair bill received on November 30. Required: 1. Prepare a journal entry for each of the above transactions, Nov. 2 Service Revenue 2,400 Cash | 2,400 2,400 (Record revenue earned) Nov. 6 Supplies 4,750 Cash -4,750 (Record purchase of supplies on account) Nov. 10 Wages Expense -5,250 Cash -5,250 (Record payment of wages) Nov. 15 Accounts Payable -4,750 Cash -4,750 (Record payment on account) Nov. 28 Utilities Expense -2,150 Cash -2,150 (Record payment for utilities) Nov. 30 Repairs and Maintenance Expense -1,230 Accounts Payable 1,230 (Record repairs performed on account) Dec. 10 Accounts Payable -1,230 Cash -1,230 (To record payment of account) 2. CONCEPTUAL CONNECTION: What accounting principle did you apply in recording the November 10 transaction? Matching principle Historical cost principle le -1,230 -1,230 Revenue recognition principle ht of account) Matching principle Conservatism principle DN: What accounting principle did you apply in recording the November 10 transaction? Matching principle