Question

Exercise 2-50 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 $2,400 for November phone service from Enrico Company. 6 Remington purchased $4,750 of supplies from Technology Associates on account. 10 Remington paid $5,250 to its hourly employees for their weekly wages. 15 Remington paid $4,750 to Technology Associates in full settlement of its account payable. 28 Remington paid $2,150 for utilities used during November, 30 Remington received a bill from Monticello Construction for $1,230 for repairs made to Remington's loading dock on November 15. Remington plans to pay the bill in early December Dec. 10 Remington paid $1,230 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 (Record revenue earned)

Answer 1

Nov 2	Cash	2400
	Service Revenue		2400
6	Supplies	4750
	Accounts Payable		4750
10	Wages expense	5250
	Cash		5250
15	Accounts Payable	4750
	Cash		4750
28	Utilities expense	2150
	Cash		2150
30	Repairs and maintenance expense	1230
	Accounts Payable		1230
Dec 10	Accounts Payable	1230
	Cash		1230