Can someone please help me fill out the following journal entries Events During January Event Date Description of Event 1 January 4 Employees are paid monthly on the first business day of the month for work done in the previous month The total payroll for the previous month is $98,000 (Ignore payroll taxes for this assignment ) Accounting wrote and distributed the paychecks 2 January 5 GBI paid $87,520 for an invoice for raw materials received December 10th from Dallas Bikes Basics Terms of payment are net 30 3 In order to better track inventory, GBI ordered a bar coding and tracking system which will be installed and tested by Computer Specialists, Inc (CSI) The system will allow employees to track inventory using mobile devices and special software which will link into their new computerized accounting system The barcode system costs $9,100 (including sales tax) and CSI will charge GBI $1,200 for the installation and tests GBI paid a deposit of $3,950 on the system today and the remainder is due and payable when the system is installed GBI will classify the bar coding system as Production Machinery, Equipment and Fixtures 4 January 7 GBI received a $124,265 funds transfer from Silicon Valley Bikes in Palo Alto for the balance due on their account 5 January 8 Northwest Bikes in Seattle, WA ordered $70,500 of bicycles from GBI The cost of the bicycles (to GBI) is $46,400 The goods were shipped to Northwest immediately via common carrier and the shipping costs will be paid by Northwest Bikes The terms of payment for Northwest Bikes order are 2 10 net 30 days 6 January 11 GBIs account on the utility company website is updated at the end of each month when the meter is read GBI uses this data to accrue the expenses at the end of each month (in this case on December 31 st ) This allows recognition of the expense in the correct period Expenses are usually accrued at the end of the month as Accrued Expenses GBI paid the December utility bill of $2,056 via the companys automatic electronic bill pay program 7 GBI received $81,043 in raw materials from Space Bike Composites in Houston, TX This inventory was ordered on December 28 The payment terms for the invoice total of are net 10 days GBI paid the shipping company $754 with a manual check for the shipment of the goods 8 January 13 New warehouse shelving ordered in November of last year was delivered and installed this week The installation was completed and the warehouse manager sign off on the job today Upon completion the installers submitted an invoice to GBI for the cost of the shelves $22,000 plus 8 sales tax and installation charges of $840 Terms of payment are net 10 days 9 January 14 GBI ordered $49,112 of raw materials and $68,320 of accessories (trading goods) from Dallas Bike Basics in Dallas, TX Terms of payment to Dallas Bike Basics are net 30 10 GBI received payment from Northwest Bikes for their order from January 8 Northwest paid the invoice amount less the discount for paying within 10 days 11 January 15 GBI received the goods they ordered from Dallas Bike Basics on January 14 th The bill of lading indicated that the raw materials were packed on a pallet weighing 420 pounds and the accessories were in boxes totaling 280 pounds Dallas added $660 to the original purchase amount for the cost of freight 12 January 19 GBI wired funds of $81,043 to Space Bike Composites for the order received January 11 13 As part of GBIs local advertising campaign, GBI purchased and paid for an advertisement in the Daily Aztec which will run each week from February 1 through May 31 The cost of the series of print ads is $6,000 14 GBI received notice that Bunkys Bicycle Emporium had declared section 13 bankruptcy which meant GBI would not be able to collect the $1,515 that Bunkys owed them 15 January 20 GBI received a $119,264 funds transfer from Silicon Valley Bikes in Palo Alto for the balance due on their account 16 GBI paid for the warehouse shelves installed on January 13 th using a standard check from their bank account 17 January 22 SoCal Bikes in Irvine, CA placed an order for $3,000 in bicycle helmets for a special event in February The merchandise cost GBI $1,802 SoCal sent a truck to the GBI distribution center in San Diego, CA and picked up the merchandise directly from GBIs warehouse Terms of payment are net 30 (Dont forget to charge sales tax of 8 0 for this order ) 18 GBI ordered $59,992 of bike accessories (trading goods) from Dallas Bike Basics in Dallas, TX Terms of payment are net 30 Dallas Bike is offering free freight during the last two weeks of the month to promote purchases 19 January 25 The city of Denver will be hosting a decathlon at the end of February The event is expected to create demand for high quality bikes Rocky Mountain Bikes in Denver, CO placed an order with GBI for $132,745 worth of bicycles to be delivered immediately Rocky Mountain will pay the shipping The bikes cost GBI $79,647 GBI shipped the order immediately so that Rocky Mountain can start promoting the bikes Because Rocky Mountain is a good customer, GBI is giving them special terms of net 45 days on this order 20 January 26 GBI received the goods ordered from Dallas Bike Basics on January 22 21 GBI paid an invoice from Lightbulb Accessory Kits for ordered trading goods that were received on December 30 The amount of the invoice from Lightbulb is $18,340 due net 30 22 January 27 The county approved GBIs building plans for their new warehouse Estimated building costs are $12,050,000 which will be funded via a mortgage from Bank of America GBI plans to break ground on the new building April 18 th of this year 23 GBI sent a $37,890 check to Night Rider Aluminum Products for an order of bicycle parts GBI received December 30th 24 January 28 The office manager in San Diego ordered $304 of office (operating) supplies from Office Depot While on the way back from a delivery, one of the warehouse staff picked up the Office Depot order and brought it to GBIs office GBI has an account with Office Depot and payment terms are net 10 Operating supplies expense is figured at the end of the month determined by the amount of supplies used during the month 25 Big Apple Bikes in New York City is expanding to another location in New York and needs to stock the new location GBI received a phone order from Big Apple for $232,315 in bicycles and $108,490 in bicycle accessories and safety gear at special discount prices The cost of the bicycles in this order is $169,586 and the cost of the accessories is $65,094 Big Apple will have a contract trucking company pick up the order when it is ready The order is sent to GBIs warehouse for picking and packing which may take a couple days Payment terms to Big Apple for this order are net 30 Shipping terms are FOB shipping point 26 January 29 GBI pays sales tax once a quarter via the states electronic filing and payment system GBI filed its return and paid $2,158 in sales tax for the quarter ending December 31 27 GBI paid Februarys rent of $10,000 for the office and warehouse space in San Diego 28 The trucking company picked up the completed order for Big Apple Bikes Chart of accounts G L acct G L Acct Long Text 100000 Bank Account 101000 Alternate Bank Account 110000 Trade Accounts Receivables 110100 Accounts Receivable (Direct Posting Account) 110150 Allowance for Bad Debts 110200 Interest Receivable 200000 Inventory Raw Materials 200100 Inventory Finished Goods 200200 Inventory Trading Goods 200300 Inventory Semi finished Goods 200400 Inventory Production Supplies 200500 Inventory Suspense (Heaven) 200600 Inventory Operating Supplies 200900 Inventory Raw Materials (Direct Post) 200910 Inventory Finished Goods (Direct Post) 200920 Inventory Trading Goods (Direct Post) 200930 Inventory Semi finished Goods (Direct Post) 210000 Prepaid Insurance 211000 Prepaid Supplies 212000 Prepaid Advertising 215000 Prepaid Rent 216000 Deposits on Purchases 220000 Notes Receivable 220050 Fixed Assets 220060 Accumulated Depreciation Fixed Assets 220100 Land 220110 Land (Direct Post) 220200 Production Machinery, Equipment and Fixtures 220210 Production Machinery, Equip Fixtures(Dir Post) 220300 Accumulated Depreciation Production mach, Equip 220310 Accumulated Depreciation Machinery (Direct Post) 220400 Office Furniture 220500 Accumulated Depreciation Office Furniture 220600 Office Equipment and Computers 220700 Accumulated Depreciation Office Equipment 220800 Vehicles 220900 Accumulated Depreciation Vehicles 221100 Intangible Assets 221200 Accumulated Amortization Intangible Assets 221300 Buildings 221400 Accumulated Depreciation Buildings 300000 Payables Trade Accounts 300100 Payables Income Taxes 300200 Accounts Payable (Direct Posting Account) 300300 Payables Interest 300400 Payables Short Term Notes 300500 Payables Long Term Notes 300600 Payables Commissions 300700 Payables Salaries and Wages 300800 Accrued Expenses 310000 Goods Receipt Invoice Receipt Account 320000 Accrued Tax Output 321000 Accrued Tax Input 322000 Unearned Revenues 329000 Common Stock 329100 Additional Paid in Capital 330000 Retained Earnings 330010 Retained Earnings (Direct Posting) 600000 Sales Revenue 610000 Sales Discount 620000 Miscellaneous Revenue 630000 Revenue Deductions 640000 Gain or Loss on Sale of Assets 650000 Customer Service Revenue 650100 Customer Service Revenue Settlement 700000 Labor 720000 Raw Material Consumption Expense 720100 Finished Product Consumption Expense 720200 Trading Good Consumption Expense 720300 Semi Finished Consumption Expense 740000 Supplies Expense 740100 Telephone and Internet Expense 740200 Legal and Professional Expense 740300 Rent Expense 740400 Insurance Expense 740500 Payroll Expense Office 740600 Payroll Expense Administrative 740700 Sales Expense 740800 Tax Expense Property 740900 Tax Expense Income 741000 Miscellaneous Expense 741100 Warranty Expense 741200 Bad Debt Expense 741300 Information Technology Expense Account 741400 Production Order Variance Expense Account 741500 Utilities (electricity phone) 741600 Manufacturing Output settlement 741700 Manufacturing Output Settlement Variance 741800 Depreciation Expense 741900 Advertising Expense 742000 Vendor Discounts Missed 742100 Shipping Expense 760000 Purchase Price Difference 760100 Production Variance 770000 Research and Development 780000 Cost of Goods Sold

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Can someone please help me fill out the following journal entries. Events During January Event Date Description of Event 1 January 4 Employees are paid

Can someone please help me fill out the following journal entries.

Events During January

Event Date Description of Event

1	January 4	Employees are paid monthly on the first business day of the month for work done in the previous month. The total payroll for the previous month is $98,000. (Ignore payroll taxes for this assignment.) Accounting wrote and distributed the paychecks.
2	January 5	GBI paid $87,520 for an invoice for raw materials received December 10th from Dallas Bikes Basics. Terms of payment are net 30.
3		In order to better track inventory, GBI ordered a bar-coding and tracking system which will be installed and tested by Computer Specialists, Inc. (CSI). The system will allow employees to track inventory using mobile devices and special software which will link into their new computerized accounting system. The barcode system costs $9,100 (including sales tax) and CSI will charge GBI $1,200 for the installation and tests. GBI paid a deposit of $3,950 on the system today and the remainder is due and payable when the system is installed. GBI will classify the bar-coding system as Production Machinery, Equipment and Fixtures.
4	January 7	GBI received a $124,265 funds transfer from Silicon Valley Bikes in Palo Alto for the balance due on their account.
5	January 8	Northwest Bikes in Seattle, WA ordered $70,500 of bicycles from GBI. The cost of the bicycles (to GBI) is $46,400. The goods were shipped to Northwest immediately via common carrier and the shipping costs will be paid by Northwest Bikes. The terms of payment for Northwest Bikes order are 2/10 net 30 days.
6	January 11	GBIs account on the utility company website is updated at the end of each month when the meter is read. GBI uses this data to accrue the expenses at the end of each month (in this case on December 31^st.) This allows recognition of the expense in the correct period. Expenses are usually accrued at the end of the month as Accrued Expenses. GBI paid the December utility bill of $2,056 via the companys automatic electronic bill pay program.
7		GBI received $81,043 in raw materials from Space Bike Composites in Houston, TX. This inventory was ordered on December 28. The payment terms for the invoice total of are net 10 days. GBI paid the shipping company $754 with a manual check for the shipment of the goods.
8	January 13	New warehouse shelving ordered in November of last year was delivered and installed this week. The installation was completed and the warehouse manager sign off on the job today. Upon completion the installers submitted an invoice to GBI for the cost of the shelves $22,000 plus 8% sales tax and installation charges of $840. Terms of payment are net 10 days.
9	January 14	GBI ordered $49,112 of raw materials and $68,320 of accessories (trading goods) from Dallas Bike Basics in Dallas, TX. Terms of payment to Dallas Bike Basics are net 30.
10		GBI received payment from Northwest Bikes for their order from January 8. Northwest paid the invoice amount less the discount for paying within 10 days.
11	January 15	GBI received the goods they ordered from Dallas Bike Basics on January 14^th. The bill of lading indicated that the raw materials were packed on a pallet weighing 420 pounds and the accessories were in boxes totaling 280 pounds. Dallas added $660 to the original purchase amount for the cost of freight.
12	January 19	GBI wired funds of $81,043 to Space Bike Composites for the order received January 11.
13		As part of GBIs local advertising campaign, GBI purchased and paid for an advertisement in the Daily Aztec which will run each week from February 1 through May 31. The cost of the series of print ads is $6,000.
14		GBI received notice that Bunkys Bicycle Emporium had declared section 13 bankruptcy which meant GBI would not be able to collect the $1,515 that Bunkys owed them.
15	January 20	GBI received a $119,264 funds transfer from Silicon Valley Bikes in Palo Alto for the balance due on their account.
16		GBI paid for the warehouse shelves installed on January 13^th using a standard check from their bank account.
17	January 22	SoCal Bikes in Irvine, CA placed an order for $3,000 in bicycle helmets for a special event in February. The merchandise cost GBI $1,802. SoCal sent a truck to the GBI distribution center in San Diego, CA and picked up the merchandise directly from GBIs warehouse. Terms of payment are net 30. (Dont forget to charge sales tax of 8.0% for this order.)
18		GBI ordered $59,992 of bike accessories (trading goods) from Dallas Bike Basics in Dallas, TX. Terms of payment are net 30. Dallas Bike is offering free freight during the last two weeks of the month to promote purchases.
19	January 25	The city of Denver will be hosting a decathlon at the end of February. The event is expected to create demand for high quality bikes. Rocky Mountain Bikes in Denver, CO placed an order with GBI for $132,745 worth of bicycles to be delivered immediately. Rocky Mountain will pay the shipping. The bikes cost GBI $79,647. GBI shipped the order immediately so that Rocky Mountain can start promoting the bikes. Because Rocky Mountain is a good customer, GBI is giving them special terms of net 45 days on this order.
20	January 26	GBI received the goods ordered from Dallas Bike Basics on January 22.
21		GBI paid an invoice from Lightbulb Accessory Kits for ordered trading goods that were received on December 30. The amount of the invoice from Lightbulb is $18,340 due net 30.
22	January 27	The county approved GBIs building plans for their new warehouse. Estimated building costs are $12,050,000 which will be funded via a mortgage from Bank of America. GBI plans to break ground on the new building April 18^th of this year.
23		GBI sent a $37,890 check to Night Rider Aluminum Products for an order of bicycle parts GBI received December 30th.
24	January 28	The office manager in San Diego ordered $304 of office (operating) supplies from Office Depot. While on the way back from a delivery, one of the warehouse staff picked up the Office Depot order and brought it to GBIs office. GBI has an account with Office Depot and payment terms are net 10. Operating supplies expense is figured at the end of the month determined by the amount of supplies used during the month.
25		Big Apple Bikes in New York City is expanding to another location in New York and needs to stock the new location. GBI received a phone order from Big Apple for $232,315 in bicycles and $108,490 in bicycle accessories and safety gear at special discount prices. The cost of the bicycles in this order is $169,586 and the cost of the accessories is $65,094. Big Apple will have a contract trucking company pick up the order when it is ready. The order is sent to GBIs warehouse for picking and packing which may take a couple days. Payment terms to Big Apple for this order are net 30. Shipping terms are FOB shipping point.
26	January 29	GBI pays sales tax once a quarter via the states electronic filing and payment system. GBI filed its return and paid $2,158 in sales tax for the quarter ending December 31.
27		GBI paid Februarys rent of $10,000 for the office and warehouse space in San Diego.
28		The trucking company picked up the completed order for Big Apple Bikes.

Chart of accounts

G/L acct	G/L Acct Long Text
100000	Bank Account
101000	Alternate Bank Account
110000	Trade Accounts Receivables
110100	Accounts Receivable (Direct Posting Account)
110150	Allowance for Bad Debts
110200	Interest Receivable
200000	Inventory-Raw Materials
200100	Inventory-Finished Goods
200200	Inventory-Trading Goods
200300	Inventory-Semi-finished Goods
200400	Inventory-Production Supplies
200500	Inventory-Suspense (Heaven)
200600	Inventory-Operating Supplies
200900	Inventory-Raw Materials (Direct Post)
200910	Inventory-Finished Goods (Direct Post)
200920	Inventory-Trading Goods (Direct Post)
200930	Inventory-Semi-finished Goods (Direct Post)
210000	Prepaid Insurance
211000	Prepaid Supplies
212000	Prepaid Advertising
215000	Prepaid Rent
216000	Deposits on Purchases
220000	Notes Receivable
220050	Fixed Assets
220060	Accumulated Depreciation - Fixed Assets
220100	Land
220110	Land (Direct Post)
220200	Production Machinery, Equipment and Fixtures
220210	Production Machinery, Equip & Fixtures(Dir.Post)
220300	Accumulated Depreciation Production mach, Equip.
220310	Accumulated Depreciation-Machinery (Direct Post)
220400	Office Furniture
220500	Accumulated Depreciation-Office Furniture
220600	Office Equipment and Computers
220700	Accumulated Depreciation - Office Equipment
220800	Vehicles
220900	Accumulated Depreciation-Vehicles
221100	Intangible Assets
221200	Accumulated Amortization - Intangible Assets
221300	Buildings
221400	Accumulated Depreciation - Buildings
300000	Payables-Trade Accounts
300100	Payables-Income Taxes
300200	Accounts Payable (Direct Posting Account)
300300	Payables-Interest
300400	Payables-Short-Term Notes
300500	Payables-Long-Term Notes
300600	Payables-Commissions
300700	Payables-Salaries and Wages
300800	Accrued Expenses
310000	Goods Receipt / Invoice Receipt Account
320000	Accrued Tax Output
321000	Accrued Tax- Input
322000	Unearned Revenues
329000	Common Stock
329100	Additional Paid-in-Capital
330000	Retained Earnings
330010	Retained Earnings (Direct Posting)
600000	Sales Revenue
610000	Sales Discount
620000	Miscellaneous Revenue
630000	Revenue Deductions
640000	Gain or Loss on Sale of Assets
650000	Customer Service Revenue
650100	Customer Service Revenue Settlement
700000	Labor
720000	Raw Material Consumption Expense
720100	Finished Product Consumption Expense
720200	Trading Good Consumption Expense
720300	Semi-Finished Consumption Expense
740000	Supplies Expense
740100	Telephone and Internet Expense
740200	Legal and Professional Expense
740300	Rent Expense
740400	Insurance Expense
740500	Payroll Expense-Office
740600	Payroll Expense-Administrative
740700	Sales Expense
740800	Tax Expense - Property
740900	Tax Expense- Income
741000	Miscellaneous Expense
741100	Warranty Expense
741200	Bad Debt Expense
741300	Information Technology Expense Account
741400	Production Order Variance Expense Account
741500	Utilities (electricity & phone)
741600	Manufacturing Output settlement
741700	Manufacturing Output Settlement Variance
741800	Depreciation Expense
741900	Advertising Expense
742000	Vendor Discounts Missed
742100	Shipping Expense
760000	Purchase Price Difference
760100	Production Variance
770000	Research and Development
780000	Cost of Goods Sold