Concept explainers
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 S2,400 for November phone service from Enrico Company. 10
6 Remington purchased S4,750 of supplies from Technology Associates on
10 Remington paid S5,250 to its hourly employees for their weekly wages.
15 Remington paid S4, 750 to Technology Associates in full settlement Of its payable.
28 Remington paid S2, 150 for utilities used during November.
30 Remington received a bill from Monticello Construction for Sl,230 for repairs made to
Remington’s loading dock on November I S. Remington plans to pay the bill in early December.
Dec. 10 Remington paid S I ,230 to Monticello Construction to settle the repair bill received on
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Chapter 2 Solutions
Cornerstones of Financial Accounting
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