$8$

The Jamesway Corporation had the following situations on December $2021.$

On December $10,2021,$ Jamesway received a $$5,700$ payment from a customer for services begun on that date and which were completed by December $31,2021.$ Deferred service revenue was credited.

$2$ On December $1,2021,$ the company paid a local radio station $$5,400$ for $40$ radio ads that were to be aired, $20$ per month, throughout December and January. Prepaid advertising was debited.

Employee salaries for the month of December totaling $$33,000$ will be paid on January $7,2022$

On August $31,2021,$ Jamesway borrowed $$95,000$ from a local bank. A note was signed with principal and $6\%$ interest to be paid on August $31,2022$

If none of the adjusting journal entries were recorded, would assets, llabilities, and shareholders' equity on the $12/31/2021$ balance sheet be higher or lower and by how much?

$\backslash$table$[[,,,],[$Assets$,$higher,by$,],[$Liabilities$,$lower,by$,],[$Shareholders$\text{'}$ equity,higher,by $3.,]]$