Initech Inc. is a small computer consulting business. The company is organized as a corporation and provides consulting services, computer system installations, and custom program development. Initech Inc. showed the following alphabetized post-closing trial balance at March 31, 2014. Account Balance Accounts payable 26,000 Accounts receivable 109,500 Accumulated depreciation, machinery 4,000 Cash 79,500 Machinery 27,000 Retained earnings 64,000 Share capital 122,000 Note: There were 4,000 shares issued and outstanding on March 31, 2014. Depreciation on the machinery is $800 per month. Initech Inc.'s salaries expense is a total of $700 per day for each work day (Monday-Friday) in the month (for simplicity, please ignore all statutory holidays). The following source documents are from April : Deposit slip (April 1) Invoice 6655 n Receipt 6644 Inter-Office Memo 3 Purchase Order 9931 Receipt 7727 n Receipt 7728 Purchase Order 6812 n Inter-Office Memo 1 n Invoice 6656 n Edmonton Hydro Bill Customer Statement for Eastco n Receipt 7726 n Receipt 7729 The Grayson Group Bill Inter-Office Meme 4 Invoice 3894 n Receipt from Avery's Diner Inter-Office Memo 2 n Inter-Office Memo 5 a) Analyze each of the preceding source documents and prepare journal entries using this information only. Note that some source documents may not require an entry. Also, all bills are recorded in the journal on the day they are received. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). Initech Inc. is a small computer consulting business. The company is organized as a corporation and provides consulting services, computer system installations, and custom program development. Initech Inc. showed the following alphabetized post-closing trial balance at March 31, 2014. Account Balance Accounts payable 26,000 Accounts receivable 109,500 Accumulated depreciation, machinery 4,000 Cash 79,500 Machinery 27,000 Retained earnings 64,000 Share capital 122,000 Note: There were 4,000 shares issued and outstanding on March 31, 2014. Depreciation on the machinery is $800 per month. Initech Inc.'s salaries expense is a total of $700 per day for each work day (Monday-Friday) in the month (for simplicity, please ignore all statutory holidays). The following source documents are from April : Deposit slip (April 1) Invoice 6655 n Receipt 6644 Inter-Office Memo 3 Purchase Order 9931 Receipt 7727 n Receipt 7728 Purchase Order 6812 n Inter-Office Memo 1 n Invoice 6656 n Edmonton Hydro Bill Customer Statement for Eastco n Receipt 7726 n Receipt 7729 The Grayson Group Bill Inter-Office Meme 4 Invoice 3894 n Receipt from Avery's Diner Inter-Office Memo 2 n Inter-Office Memo 5 a) Analyze each of the preceding source documents and prepare journal entries using this information only. Note that some source documents may not require an entry. Also, all bills are recorded in the journal on the day they are received. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan)