Welcome to Project 2 where you will be completing the Accounting Cycle for Valley Bikes, a merchandising business. It is the purpose of Project 2 to review what you learned in Chapters 12 through 15, Part 3 of Sage 50 for Merchandising Businesses. Accounts payable, accounts receivable. payroll. inventory transactions, and account reconciliation are included in this project. Vendors offer Valley Bikes a purchase discount of 2% 15, Net 30 days. Valley Bikes is located in Oregon where there is no sales tax. Course Objective #5: Use an accounting software package to produce nancial and managerial reports and explain the usefulness of each report. - 05.7: Report Quarterly Activites and Close the Fiscal Year. Instructions: Locate Project 2, Valley Bikes, in your textbook pages 597613. In Project 2 you will complete the Computer Accounting Cycle forValley Bikes. Beginning on page 597, the textbook will walk you step-by-step through the process and Accounting activities for setting up a Merchandising Business. To assist you with your progress please complete the checklist on page 614 of your textbook. This project is worth 50 points. \f\f\f