at the end of each mo Jest on the loan at Dean L04-6, an estimated life of 30 years. Thes Adjusting in advance 101 this flight Sweeney & Allen, a large marketing firm, adjusts its accounts at the following information is available for the year ending December 31, 2015. 1. A bank loan had been obtained on December 1. Accrued interest on the i amounts to $1,500. No interest expense has yet been recorded. 2. Depreciation of the firm's office building is based on an estimated life of 30 w was purchased in 2011 for $450,000. 3. Accrued, but unbilled, revenue during December amounts to $75,000. 4. On March 1, the firm paid $2,400 to renew a 12-month insurance policy. The entire recorded as Prepaid Insurance. 5. The firm received $15,000 from King Biscuit Company in advance of developing as marketing campaign. The entire amount was initially recorded as Unearned Rep December 31, $9,000 had actually been earned by the firm. 6. The company's policy is to pay its employees every Friday. Since December 31 fel Wednesday, there was an accrued liability for salaries amounting to $1,900. a. Record the necessary adjusting journal entries on December 31, 2015. 171 b. By how inuch did Sweeney & Allen's net income increase or decrease as a result of the adjust- ing entries performed in part a? (Ignore income taxes.)