record daily events 10- 19 if appropriate as journal entries

10 January 12 GBI paid $92,820 via bank transfer for the inventory order that they received from Dallas Bike Basics on January 3. 11 January 13 12 January 17 13 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 $5,995 (including sales tax) and CSI will charge GBI $1,200 for the installation and tests. GBI paid a deposit of $3,000 on the system 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". GBI paid an invoice from Lightbulb Accessory Kits for ordered goods that were received on December 20. The amount of the invoice from Lightbulb is $17,010 due net 30. 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 $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 GBI received raw materials inventory ordered from Space Bike Composites on January 11. Shipping charges of $802 were included in the S100.220 invoice from Space Bike. GBI received notice that Bunky's Bicycle Emporium had declared section 13 bankruptcy which meant GBI would not be able to collect the $1,610 that Bunky's owed them. GBI received an $89,960 funds transfer from Silicon Valley Bikes in Palo Alto for the balance due on their account. GBI paid Staples for the office supplies they received on January 11. 14 15 16 January 18 17 January 19 18 SoCal Bikes in Irvine, CA placed an order for $2,300 in bicycle helmets for a special event in February. The merchandise cost GBI SL 380. SoCal sent a truck to the GBI distribution center in San Diego, CA and picked up the merchandise directly from GBI's warehouse. The terms of payment are net 30. (Don't forget to charge a sales tax of 8.75% for this order.) 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, 19 January 24 SAP AG as modified by Brenden Schaaf 2020 Page 8 10 January 12 GBI paid $92,820 via bank transfer for the inventory order that they received from Dallas Bike Basics on January 3. 11 January 13 12 January 17 13 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 $5,995 (including sales tax) and CSI will charge GBI $1,200 for the installation and tests. GBI paid a deposit of $3,000 on the system 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". GBI paid an invoice from Lightbulb Accessory Kits for ordered goods that were received on December 20. The amount of the invoice from Lightbulb is $17,010 due net 30. 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 $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 GBI received raw materials inventory ordered from Space Bike Composites on January 11. Shipping charges of $802 were included in the S100.220 invoice from Space Bike. GBI received notice that Bunky's Bicycle Emporium had declared section 13 bankruptcy which meant GBI would not be able to collect the $1,610 that Bunky's owed them. GBI received an $89,960 funds transfer from Silicon Valley Bikes in Palo Alto for the balance due on their account. GBI paid Staples for the office supplies they received on January 11. 14 15 16 January 18 17 January 19 18 SoCal Bikes in Irvine, CA placed an order for $2,300 in bicycle helmets for a special event in February. The merchandise cost GBI SL 380. SoCal sent a truck to the GBI distribution center in San Diego, CA and picked up the merchandise directly from GBI's warehouse. The terms of payment are net 30. (Don't forget to charge a sales tax of 8.75% for this order.) 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, 19 January 24 SAP AG as modified by Brenden Schaaf 2020 Page 8