This is to be done with Sage 50. I am currently at step #3 transferring funds. Please explain the step by step procedure. Do I need to enter a new journal entry? Thank you.

1 Use the method outlined previously to select and modify the following accounts: Acct Account Name New Account Name 2240 Deduction 1 Payable AD & D Payable 2250 Deduction 2 Payable Medical Payable 3010 Owner's Contribution Your Name, Capital 3015 Owner's Withdrawals Your Name, Withdrawals 2 Use one of the previous methods to delete the following Ledger accounts: Acct Account Name 1605 Other Assets 1610 Goodwill 1620 Accum. Amort.- Goodwill 1630 Goodwill Net 1690 Total Other Assets 4450 Training 3 Complete the following General Journal transactions dated March 4, 2017: Transfer the funds currently in the Insurance Expense account (5685) to the Prepaid Expenses accoun (1320). Open the Chart of Accounts in the Company module to look up the balance of the accoun Use Correction for the Source field. Complete a recurring entry to set up and post a monthly transfer of 1/12th of the total insurance amour from the Prepaid Expenses account to the Insurance Expense account (1,680.00/12 = 140.00). View th recurring entry to ensure it is included in the list of Recurring entries. Make up a logical name for th recurring transaction name. 4 Add a CIBC Payroll Account (1070) to the Chart of Accounts (Subgroup Account, Main Branch, accou number 369852, Account type: Chequing). Transfer $5,000 into it from the CIBC Chequing Accou effective March 4, 2017. 5 Display your Chart of Accounts and check the validity of your accounts