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$3C$ paid for advertisements in local newspapers to attract potential customers. The

newspaper ads ran in December $2022$ and cost $$2,500.$

In December $2022,3$C negotiated a contract with the Massachusetts Board of

Secondary Education $($MBSE$),$ under which $3C$ would provide certain college counseling

services to Massachusetts high school students. MBSE paid $$240,000$ in December and

$3C$ will begin work under this contract in January $2023.$

In December $2022,3$C paid $$48,000$ for an insurance policy that will cover their business

operations for the year $2023($January $1-$ December $31).$

$3C$ bought office supplies from Staples at a total cost of $$1,570$ in December $2022.$

During December $2022,3$C collected $$800$ from a student who had used $3$C$\text{'}$s consulting

services in November $($on account$).$ As of December $31,2022,3$C had not yet recorded

this receipt of cash.