During the first month of operations, the following transactions occurred for Crane Inc.: Apr. 1 1 2 3 10 13 20 Invested cash of $10,000 and equipment of $5,500 in the company in exchange for common shares. Hired a secretary-receptionist at a monthly salary of $1,500. Paid officerent for the month, $750. Purchased architectural supplies on account from Halo Ltd., $1,500. Completed blueprints on a carport and billed client $1,200. Received $800 cash advance from a client for the design of a new home. Received $2,000 for services performed for a client. Received $600 from client in partial payment for work completed and billed on April 10. Received April's telephone bill for $135; due May 15. (Hint: Use the Utilities Expense account for telephone services.) Declared and paid $120 of dividends to shareholders. Paid 50% ($750) of the amount owed to Halo Ltd. on account. (see April 3 transaction) Paid secretary-receptionist for the month, $1,500. Paid monthly income tax instalment. $100. 21 23 25 27 30 30 Cash Apr. 1 Apr. 2 Apr. 3 Apr. 10 Apr. 13 Accounts Receivable Apr. 10 Apr. 21 Supplies Apr. 3 Apr. 20 Equipment Accounts Payable Deferred Revenue Common Shares Dividends Declared Service Revenue Salaries Expense Rent Expense Utilities Expense Income Tax Expense List of Accounts After the accountant finished journalizing and posting the above transactions, he complained that this process took too much time. He thought it would be more efficient to omit the journal entry step in the accounting cycle and record the transactions directly in the general ledger. Explain to the accountant whether you think this is a good idea or not. This suggestion is