The management of CPA Associates, Inc. has requested development of a simple general ledger accounting system that can be provided free of charge to small organizations that have access to a personal computer but without personnel having accounting software skills. It has been decided that a spreadsheet application will be most appropriate for the target user organizations because most clients are generally familiar with spreadsheet software, but not database software. This project requires development of a basic accounting system using seven worksheets that have already been created within one workbook: 1. Cash Receipts Journal worksheet Cash Disbursements Journal worksheet 2. 3. General Journal worksheet 4. General Ledger worksheet 5. Trial Balance worksheet 6. 7. Financial statements (Active) Financial statements (Permanent) Follow the steps described in this set of instructions to Enter formulas within the worksheets to sort transaction data that will be recorded in the journals and to pull that data through the general ledger to prepare a trial balance and a set of financial statements. Create a spreadsheet program (also called a macro) that will close out the current accounting period and prepare the spreadsheet for use in the following accounting period. Record a set of sample transactions. The spreadsheet accounting system will be set up for CPA Associates using the chart of accounts shown in Figure 1. BALANCE SHEET ACCOUNTS Assets: 110 Cash FIGURE 1 Chart Of Accounts INCOME STATEMENT ACCOUNTS Revenues: 410 Client Fees 130 Accounts Receivable 140 Supplies Expenses: 510 Supplies Expense Liabilities: 590 General Expense 210 Accounts Payable Owner's Equity 310 Capital Stock 311 Retained Earnings 312 Dividends