THE REQUIRES IS THE JOURNAL ENTRIES OF THE FOLLOWING INFORMATION 22 January 27 The county approved GBIs building plans for their new warehouse Estimated building costs are $1,300,000 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 $32,000 check to Night Rider Aluminum Products for an order of bicycle parts GBI received December 30th 24 No transaction 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 $250,000 in bicycles and $108,500 in bicycle accessories and safety gear at special discount prices The cost of the bicycles in this order is $185,000 and the cost of the accessories is $65,000 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 25 January 31 GBI pays sales tax once a quarter via the states electronic filing and payment system GBI filed its return and paid its sales tax for the quarter ending December 31 26 GBI paid Februarys rent of $4,000 for the office and warehouse space in San Diego 27 PPE 7300 CASH 4800 DOP 2500 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 the balance owed and gave it to the installer 28 Big Apples truck arrived at GBIs warehouse and picked up the order from January 27 th Account Balances as of December 31 st Debit Balance Credit Balance 100000 Bank Account $300,318 110100 Accounts Receivable (Direct Posting Account) 94,670 110150 Allowance for Bad Debts 2,600 200600 Inventory Operating Supplies 8,832 200900 Inventory Raw Materials (Direct Post) 52,000 200910 Inventory Finished Goods (Direct Post) 281,298 200920 Inventory Trading Goods (Direct Post) 66,474 210000 Prepaid Insurance 3,000 212000 Prepaid Advertising 2,400 220110 Land (Direct Post) 528,000 220210 Production Machinery, Equip Fixtures (Dir Post) 915,000 220310 Accumulated Depreciation Machinery (Direct Post) 408,000 300200 Accounts Payable (Direct Posting Account) 48,000 300700 Payables Salaries and Wages 94,313 300800 Accrued Expenses 2,200 320000 Accrued Tax Output 4,000 329000 Common Stock 1,010,000 329100 Additional Paid in Capital 52,870 330010 Retained Earnings (Direct Posting) 630,009

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THE REQUIRES IS THE JOURNAL ENTRIES OF THE FOLLOWING INFORMATION: 22 January 27 The county approved GBIs building plans for their new warehouse. Estimated building

THE REQUIRES IS THE JOURNAL ENTRIES OF THE FOLLOWING INFORMATION:

22	January 27	The county approved GBIs building plans for their new warehouse. Estimated building costs are $1,300,000 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 $32,000 check to Night Rider Aluminum Products for an order of bicycle parts GBI received December 30th.
24	No transaction	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 $250,000 in bicycles and $108,500 in bicycle accessories and safety gear at special discount prices. The cost of the bicycles in this order is $185,000 and the cost of the accessories is $65,000. 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.
25	January 31	GBI pays sales tax once a quarter via the states electronic filing and payment system. GBI filed its return and paid its sales tax for the quarter ending December 31.
26		GBI paid Februarys rent of $4,000 for the office and warehouse space in San Diego.
27	PPE 7300 CASH 4800 DOP 2500	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 the balance owed and gave it to the installer.
28		Big Apples truck arrived at GBIs warehouse and picked up the order from January 27^th.

Account Balances as of December 31^st


		Debit Balance	Credit Balance
100000	Bank Account	$300,318
110100	Accounts Receivable (Direct Posting Account)	94,670
110150	Allowance for Bad Debts		2,600
200600	Inventory-Operating Supplies	8,832
200900	Inventory-Raw Materials (Direct Post)	52,000
200910	Inventory-Finished Goods (Direct Post)	281,298
200920	Inventory-Trading Goods (Direct Post)	66,474
210000	Prepaid Insurance	3,000
212000	Prepaid Advertising	2,400
220110	Land (Direct Post)	528,000
220210	Production Machinery, Equip & Fixtures (Dir.Post)	915,000
220310	Accumulated Depreciation-Machinery (Direct Post)		408,000
300200	Accounts Payable (Direct Posting Account)		48,000
300700	Payables-Salaries and Wages		94,313
300800	Accrued Expenses		2,200
320000	Accrued Tax Output		4,000
329000	Common Stock		1,010,000
329100	Additional Paid-in-Capital		52,870
330010	Retained Earnings (Direct Posting)		630,009