6. Enter all transactions for December 2022.

7. Prepare a Schedule of Accounts Receivable as of 12-31-2022 and submit with the rest of your project.

8. Prepare a Schedule of Accounts Payable as of 12-31-2022 and submit with the rest of your project.

9. Print a Trial Balance before you begin adjustments. Name the Trial Balance:

[Your Name] The Runners Company

Trial Balance before Adjustments

As of December 31, 2022

Narrative of Business Transactions Record these business transactions in the appropriate windows in QuickBooks Online. Use the account titles that appear in the December 1, 2022, trial balance. Dates 2022 Transactions Dec. 2 Issue check \# 425 to Allstate Insurance Company for $3,600. The payment represents one year of coverage. Dec. 2 Borrowed $65,000 from Citi Bank. This is a 15 year note payable bearing 12% interest, payable semi-annually on June 1 and December 1 of each year. Dec. 3 Issued Check \#426 to The Dayton City Newspaper for $225 for advertising. Dec. 3 Sold merchandise on account to True Sports Shop, customer 2055. The sales invoice is number 6202 and is for $6,500, terms 1/10n/30. Runners Company uses a perpetual inventory system and Therefore, records the cost of merchandise sold as well as the sale. Items Sold: \#10560 pairs@75.00 \#13040 pairs@50.00 Cost of Sale: \#10560 pairs@25.00 \#13040 pairs@19.95 Due to the nature of the business, most but not all sales are on a credit basis for the Runners Company Dec. 3 Received a check from Active Stores, customer number 2052 , for a partial payment of $13,689. Dec. 3 Purchased merchandise from Tice Manufacturing Company, vendor number 1 . The purchase invoice Is number 3356 for $13,070, terms net 30 . ItemsPurchased:#130600pairs@19.95#12050pairs@22.00 Dec. 4 Sold merchandise on account; invoice 6203 , to String Stores, customer number 2058, for $35,350. Terms of the sale were 1/10n/30. Items Sold: \#130210pairs@50.00 \#120140 pairs @65.00 \#110175 pairs @90.00 Cost of Sale: \#130210 pairs@19.95 \#120140pairs@22.00 \#110175 pairs@35.00 Dec. 7 Sold merchandise to S.T. Sporting Co. for $16,750 cash, check no. 481 . Items Sold: \#105 113 pairs @ 75.00 \#11045 pairs@90.00 \#12065 pairs@65.00 Cost of Sale: \#105113 pairs@25.00 \#11045 pairs @35.00 \#12065 pairs@22.00 Dec. 9 Sold Merchandise to North Shoes Center, located at 105NE8th, Bellevue, WA 98009, customer number 2062 , for $2,000. The sales invoice is 6204 . Terms 1/10n/30. Items Sold: \#13040 pairs@50.00 Cost of Sale: \#13040 pairs @19.95 Dec. 9 Receive a check no. 317 from All Sporting, customer number 2056 , for $4,000 in payment of invoice number 6192 . Dec. 10 Receive check 917 from True Sports Shop, customer number 2055 , for $6,435. The invoice number is 6202 , and a sales discount of $65 was taken. Dec. 10 Purchased merchandise from Tic Manufacturing Company, vendor number 5. The purchase invoice is number 3538 for $20,250. Terms 30 days. Items Purchased: \#105425pairs@25.00 \#110275pairs@35.00 Dec. 11 Returned $1,500 worth of merchandise to Hoot Manufacturing Company, vendor 4. Receive a credit memorandum acknowledging a reduction in the liability account of $1,500. Items Return: \#10560pairs@25.00 Dec. 11 Received check \#296 from String Stores, customer number 2058 , for $34,996.50 in payment of invoice number 6203 , sales discount $353.50. Dec. 12 Sold merchandise to Hales Sporting Goods for cash, $9,150, check 569 . Items Sold: \#105122 pairs@75.00 Cost of Sale: \#105122 pairs@25.00 Dec. 14 Issue check \# 427 to Hoot Manufacturing, vendor number 3 , for payment of purchase invoice number 3532 less the goods that were returned. Dec. 14 Mr. Noah Arc invested an additional $85,000 into the business. Dec. 17 Issue check \# 428 to Hay Manufacturing, vendor number 2 , for $33,000 purchase invoice number 3533. Dec. 18 The Dayton City Council donated land with a fair market value of $15,000 to Runners Company as an incentive for future expansion. Dec.20 Received check 618 from North Shoes, customer number 2062, in payment for invoice number 6204. Dec. 21 Issue check \# 429 to Say Manufacturing Company, vendor number 4 , for $945 in partial payment of purchase invoice number 3534. Dec. 26 Runners Company sold Land for $10,000 cash; no gain or loss recognized. Dec. 27 Sold merchandise on account to Tog Sports Shop. The sales invoice is number 6205 and is for $1,575, terms 1/10n/30. Items Sold: \#1205 pairs@65.00 \#13025 pairs@50.00 Cost of Sale: \#1205@22.00 #13025@1995 Dec. 27 Tog Sport Shop notified us of their bankruptcy proceeding. This makes it necessary to write off their account as uncollectible. Dec. 28 Mr. Noah Arc withdrew $35,000 to pay for a car for his wife using check \# 430 . Dec. 28 Issued check \# 431 to Bell Advertising Agency for $4,000. Dec. 29 Sold marketable securities for $20,000. Recognize a gain of $5,000. Dec. 29 Issue check \# 432 to The US Post Office for $100. (Charge to miscellaneous expense) Dec. 30 Issue check \# 433 to Con Edison for $475 for utility bill payment. Dec. 30 Purchased additional land for plant expansion from The Ohio Real Estate Company. Issued check \# 434 for $25,000