Can you please make the following Adjusting entries.

Adjustment information as of January 31, not already given in the original transaction(s): 1. Based on prior experience, GBI estimates that approximately % of the net credit sales (gross credit sales minus returns of credit sales) for the month will become bad debt. GBI writes off bad debts as they occur and recognizes bad debt expense based on anticipated bad debts as an adjusting entry each month. 2. As a control measure, physical inventories are taken on a periodic basis alternating between the raw materials inventory, finished goods inventory and trading goods inventory. Physical inventory of the trading goods inventory was taken at the end of January. It was determined that the value of the trading goods merchandise on hand was $40,710. 3. GBI counted the office supplies on hand after the close of business on the last day of the month and determined the cost of the unused office supplies to be $620. 4. Production Machinery, Equipment and Fixtures were placed in service on January 1, 2008, are expected to last 15 years with no salvage value. The bar-code system has a 5 year life and no salvage value. GBI depreciates fixed assets on a straightline basis and those assets acquired in the first half of the month are depreciated for the entire month, while fixed assets placed in service during the last half of the month are not depreciated until the second month. Depreciation is rounded to the nearest dollar and assets are depreciated on a monthly basis (i.e. number of days in the month is not of consequence). 5. GBI used the Internet to review the monthly charges for utilities the business consumed during January. Based on the internet report, the amount to be billed by the utilities company for January usage is $1,046. 6. Liability insurance for the six month period ending on February 28 in the amount of $15,000 was paid last August on the first of the month. Liability insurance is assumed to be utilized uniformly over the six month policy period. 7. GBI needs to recognize the wages expense for the month. Since all employees are paid salaries and no changes have been made, this amount is the same as the previous month salaries. (For purposes of this assignment, ignore manufacturing and assume all labor costs will be expensed.) T-Accounts Balance Jan. 7 Jan. 11 Jan. 18 Jan. 26 Jan. 27 Balance Bank Account $252,518 Jan. 3 Jan. 3 $16,850 Jan. 10 $21,560 Jan. 12 $89,960 Jan. 13 $27,450 Jan. 17 $340,805 Jan. 19 Jan. 25 Jan. 27 Jan. 31 Jan. 31 Jan. 31 $466,777 Trail Balance Debit $110,000 $550 $988 $92,820 $3,000 $17,010 $350 $15,000 $30,890 $3,063 $4,500 $4,195 Accounts Receivable (Direct Posting Account) Balance $108,420 Jan. 7 $16,850 Jan. 3 $22,000 Jan. 11 $22,000 Jan. 17 $128,130 Jan. 17 $1,610 Jan. 19 $2,501 Jan. 18 $89,960 Balance $130,631 Allowance for Bad Debt $1,610 Balance Jan. 17 $2,500 $890 Interest Recievable Balance Inventory-Operating Supplies $750 Balance $750 Balance Jan. 3 Allowance for Bad Debts Interest Receivable Inventory-Operating Supplies Inventory-Raw Materials (Direct Post) Inventory-Finished Goods (Direct Post) Inventory-Trading Goods (Direct Post) Inventory-Semi-finished Goods (Direct Post) Prepaid Insurance Prepaid Supplies Prepaid Advertising Prepaid Rent Deposits Note Receivable Land (Direct Post) Production Machinery, Equip & Fixtures (Direct Post) Accumulated Depreciation-Machinery (Direct Post) Office Furniture Accumulated Depreciation-Office Furniture Office Equip and Computers Accumulated Depreciation-Office Equipment Payables-Income Taxes Account Payable (Direct Posting Account) Payables-Interest Payables-Short-Term Notes Payables-Long-Term Notes Payables-Commissions Payables-Salaries and Wages Accured Expense Goods Receipt/ Invoice receipt Account Accured Tax- Output Accured Tax- Input Unearned Revenues Common Stock Additional Paid-in-Capital Retained Earnings (Direct Posting) Shipping Expense Sales Cost of Goods Sold Advertising Expenses Sales Discounts & Allowances $0 Balance Bank Account Accounts Receivables Inventory-Raw Materials (Direct Post) $32,000 $37,128 Totals Balance Balance Jan. 3 Balance Balance Jan. 17 Balance $69,128 Inventory-Finished Goods (Direct Post) $281,298 Jan. 3 $15,180 $55,692 Jan. 27 $234,680 $87,130 Inventory-Trading Goods (Direct Post) $66,474 Jan. 17 $99,418 Jan. 19 Jan. 26 $79,441 $1,380 $17,092 $67,979 Inventory-Semi-finished Goods (Direct Post) Balance Balance Balance Prepaid Insurance $5,000 $5,000 Jan. 11 Prepaid Supplies $350 Balance $350 Credit $466,777 $130,631 $890 $750 $69,128 $87,130 $67,979 $5,000 $350 $15,000 $4,500 $425,000 $922,195 $305,000 $100,220 $0 $201 $1,000,000 $618,009 $1,352 $520,685 $347,773 $1,000 $440 $2,545,005 $2,545,005 Balance Jan. 25 Balance Prepaid Advertising $1,000 Jan. 10 $15,000 $15,000 Jan. 31 Prepaid Rent $4,500 Balance $1,000 $4,500 Deposits Balance $0 Notes Receivable Balance $0 Balance Land (Direct Post) $425,000 Balance $425,000 Production Machinery, Equip & Fixtures (Dir.Post) Balance $915,000 Jan. 13 $7,195 Balance $922,195 Accumulated Depreciation-Machinery (Direct Post) Balance $305,000 Balance $305,000 Office Furniture Balance Balance $0 Accumulated Depreciation-Office Furniture Balance $0 Office Equip and Computers Balance $0 Accumulated Depreciatio-Office Equipment Balance $0 Payables-Income Taxes Balance Jan. 12 Jan. 17 Jan. 19 Jan. 27 Jan. 31 $0 Accounts Payable (Direct Posting Account) Balance $47,900 $92,820 Jan. 3 $92,820 $17,010 Jan. 11 $350 $350 Jan. 13 $4,195 $30,890 Jan. 17 $100,220 $4,195 Balance $100,220 Payables-Interest Balance Payables-Short-Term Notes Balance Payables-Long-Term Notes Balance Payables-Commissions Jan. 3 Payables-Salaries and Wages $110,000 Balance $110,000 Balance Accrued Expense $988 Balance $988 Balance Jan. 10 $0 $0 Goods Receipt / Invoice Receipt Account $3,063 $201 Balance Jan. 31 Accrued Tax-Output $3,063 Balance Jan. 19 $201 Accrued Tax-Input Unearned Revenues Common Stock Balance Balance $1,000,000 $1,000,000 Additional Paid-in-Capital Retained Earnings (Direct Deposit) Balance Balance Jan. 3 Jan. 17 Balance Shipping Expense $550 $802 $1,352 Sales Jan. 3 Jan. 17 Jan. 19 Jan. 26 Jan. 27 Balance Jan. 3 Jan. 17 $618,009 $618,009 Cost of goods sold $15,180 $79,441 $22,000 $128,130 $2,300 $27,450 $340,805 $520,685 Jan. 19 Jan. 26 Jan. 27 $1,380 $17,092 $234,680 Balance $347,773 Jan. 10 Balance Advertising Expense $1,000 $1,000 Jan. 11 Sales Discounts & Allowances $440 Balance $440 Journal Entries Date Jan. 3 Jan. 3 Transaction # Journal Entry # Account # 1 2 1 2 Accounts 300700 Payables-Salaries and Wages 100000 Bank Account 200900 Inventory-Raw Materials (Direct Post) 200930 Inventory-Semi-finished Goods (Direct Post) 300200 Accounts Payable (Direct Posting Account) 742100 Shipping Expense 100000 Bank Account Jan. 3 Jan. 10 Jan. 10 Jan. 11 Jan. 11 Jan. 12 Jan. 13 Jan. 17 Jan. 17 4 5 6 7 9 10 11 12 13 3 4 5 6 7 8 9 10 11 12 $110,000 $37,128 $55,692 $92,820 $550 $550 110100 Accounts Receivable (Direct Posting Account) 600000 Sales Revenue $22,000 $15,180 100000 Bank Account 110100 Accounts Receivable (Direct Posting Account) $16,850 300800 Accrued Expense 100000 Bank Account 741900 Advertising Expense 212000 Prepaid Advertising 211000 Prepaid Supplies 300200 Accounts Payable (Direct Posting Account) $22,000 $15,180 $16,850 $988 $988 $1,000 $1,000 $350 $350 100000 Bank Account 610000 Sales Discount 110100 Accounts Receivable (Direct Posting Account) $21,560 $440 300200 Accounts Payable (Direct Posting Account) 100000 Bank Account $92,820 220210 Production Machinery, Equipment and Fixtures 100000 Bank Account 300200 Accounts Payable (Direct Posting Account) 300200 Accounts Payable (Direct Posting Account) 100000 Bank Account 110100 Accounts Receivable (Direct Posting Account) 600000 Sales Revenue $22,000 $92,820 $7,195 $3,000 $4,195 $17,010 $17,010 $128,130 $128,130 780000 Cost of Goods Sold 200920 Inventory-Trading Goods (Direct Post) Jan. 17 Jan. 17 Jan. 18 Jan. 19 Jan. 19 14 15 16 17 14 15 16 200920 Inventory-Trading Goods (Direct Post) 742100 Shipping Expense 300200 Accounts Payable (Direct Posting Account) $99,418 $802 $79,441 $100,220 110150 Allowance for Bad Debt 110100 Accounts Receivable (Direct Posting Account) $1,610 100000 Bank Account 110100 Accounts Receivable (Direct Posting Account) $89,960 300200 Accounts Payable (Direct Posting Account) 100000 Bank Account $1,610 $89,960 $350 $350 Jan. 27 21 23 18 110100 Accounts Receivable (Direct Posting Account) 600000 Sales Revenue 320000 Accrued Tax - Output $2,501 $1,380 $2,300 $201 $1,380 19 20 212000 Prepaid Advertising 100000 Bank Account $15,000 100000 Bank Account 600000 Sales Revenue $27,450 780000 Cost of Goods Sold 200920 Inventory-Trading Goods (Direct Post) Jan. 26 20 17 $79,441 780000 Cost of Goods Sold 200920 Inventory-Trading Goods (Direct Post) Jan. 25 18 13 Credit $110,000 780000 Cost of Goods Sold 200920 Inventory-Trading Goods (Direct Post) Jan. 7 3 Debit $17,092 300200 Accounts Payable (Direct Posting Account) $30,890 $15,000 $27,450 $17,092 100000 Bank Account Jan. 27 Jan. 31 Jan. 31 Date 21 25 22 26 23 27 24 100000 Bank Account 600000 Sales Revenue $340,805 780000 Cost of Goods Sold 200910 Inventory-Finished Goods (Direct Post) Jan. 31 24 $30,890 $234,680 A3 $234,680 320000 Accrued Tax - Output 100000 Bank Account $3,063 215000 Prepaid Rent 100000 Bank Account $4,500 300200 Accounts Payable (Direct Posting Account) 100000 Bank Account $4,195 Transaction # Journal Entry # Account # A1 A2 $340,805 $3,063 $4,500 Accounts $4,195 Debit Credit 100000 Bank Account 110100 Accounts Receivable (Direct Posting Account) 110150 Allowance for Bad Debt 110200 Interest Receivable 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 220000 Notes Receivable 220110 Land 220210 Production Machinery, Equipment and Fixtures 220310 Accumulated Depreciation -Production mach, Equip. 220400 Office Furniture 220500 Accumulated Depreciation-Office Furniture 220600 Office Equip and Computers 220700 Accumulated Depreciation- Office Equipment 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 Expense 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 330010 Retained Earnings (Direct Post) 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 720000 Raw Material Consumption Expense 720100 Finished Product Consumption Expense 720200 Trading Good Consumption Expense 720300 Semi-Finished Consumption Expense 740000 Supplies Expense 740100 Utilities 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 Labor Expense 741200 Bad Debt Expense 741300 Information Technology Expense Account 741400 Production Order Variance Expense Account 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