I need help with checking some journal entries. 1)The city of Vail 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 Vail, CO placed an order with GBI for $128,130 worth of bicycles to be delivered immediately. Rocky Mountain will pay the shipping. The bikes cost GBI $79,441. 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.

What I have: Accounts Receivable $128130

COGS $79,441

Sales Revenue $128,130 Inventory (finished goods) $79,441

2) GBI received raw materials inventory ordered from Space Bike Composites. Shipping charges of $802 were included in the $100,220 invoice from Space Bike.

What I have: Inventory (raw materials) $99,418 Shipping expense $802

Accounts Payable $100,220

3) SoCal Bikes in Irvine, CA placed an order for $2,300 in bicycle helmets for a special event in February. The merchandise cost GBI $1,380. SoCal sent a truck to the GBI distribution center in San Diego, CA and picked up the merchandise directly from GBI's warehouse. Terms of payment are net 30. (Don't forget to charge sales tax of 8.75% for this order.)

NEED HELP

4) GBI pays sales tax once a quarter via the state's electronic filing and payment system. GBI filed its return and paid $3,063 in sales tax for the quarter ending December 31.

Sales tax expense $3,063 Cash $3,063

5) On January 31 Big Apple's truck arrived at GBI's warehouse and picked up the order the they had placed on January 27th. The order was: 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.

NEED HELP