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Jamesway Corporation had the following situations on December 2021 On December 10,2021 , Jamesway received a $5,100 payment from a customer for services begun on
Jamesway Corporation had the following situations on December 2021 On December 10,2021 , Jamesway received a $5,100 payment from a customer for services begun on that date and which were completed by December 31,2021 . Deferred service revenue was credited. On December 1,2021 , the company paid a local radio station $4,200 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 $27.000 will be paid on January 7.2022 4. On August 31, 2021, Jamesway borrowed $65,000 from a local bank. A note was signed with principal and 6% interest to be paid on August 31, 2022 f none of the adjusting journal entries were recorded, would assets, liabilities, and shareholders equity on the 12/31/2021 balance heet be higher or lower and by how much? Answer is complete but not entirely correct
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