January $24$ Beantown Bikes in Boston, MA placed an order with GBI for $$27,450$ in bicycles.

The cost of the bicycles is $$17,092.$ Beantown Bikes is a new customer. Its

buyers saw GBI$$s booth at a trade show. Because Beantown is a new customer,

they must either wait until their credit can be approved or pay for the order

before GBI will ship the bikes to them.

$20$ January $25$ GBI has been offered the opportunity to advertise in the Bicycle Times online

magazine for a reduced price if they pay for three months in advance.

Considering the upcoming Tour de France, the advertising is a great

opportunity for GBI to get additional recognition. The advertising will start in

February. GBI wrote a check for $$15,000$ for three months of advertising.

$21$ January $26$ GBI received notification from their bank that $$27,450$ had been transferred to

their account from Beantown Bikes, so GBI$$s warehouse personnel shipped

Beantown$$s order. Beantown will be responsible for paying Fed$-$X $$360$ for

shipping the order.

$22$ January $27$ The county approved GBI$$s building plans for their new warehouse. Estimated

building costs are $$1,050,000$ 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.

$23$ January $27$ GBI sent a $$30,890$ check to Night Rider Aluminum Products for an order of

bicycle parts GBI received December $30$th$.$

$24$ January $27$ 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 GBI$$s

warehouse for picking and packing which may take a couple days. Payment

terms to Big Apple for this order are net $30.$

$25$ January $31$ 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 $31.$

$26$ January $31$ GBI paid February$$s rent of $$4,500$ for the office and warehouse space in San

Diego.

$27$ January $31$ CSI installed and tested the new barcode system. The warehouse manager

approved the installation and commented that she thinks it works great. GBI

wrote a check to CSI for $$4,195$ and gave it to the installer.

$28$ January $31$ Big Apple$$s truck arrived at GBI$$s warehouse and picked up the order from

January $27$th$.$