Sweeney & Allen, a large marketing firm, adjusts its accounts at the end of each month. The following information is available for the year ending December 31 1. A bank loan had been obtained on December 1 Accrued interest on the loan at December 31 amounts to $1,390. No interest expense has yet been recorded. 2. Depreciation of the firm's office building is based on an estimated life of 30 years. The building was purchased four years ago for W $380,000 3. Accrued, but unbilled, revenue during December amounts to $73,000 4. On March 1, the firm paid $1,300 to renew a 12 month insurance policy. The entire amount was recorded as Prepaid Insurance 5. The firm received $15,000 from King Biscuit Company in advance of developing a six-month marketing campaign The entire amount was initially recorded as Uneared Revenue At December 31, $3,400 had actually been earned by the firm 6. The company's policy is to pay its employees every Friday Since December 31 fell on a Wednesday, there was an accrued liability for salaries amounting to $1500. a. Record the necessary adjusting journal entries on December 31 b. By how much did Sweeney & Allen's net income increase or decrease as a result of the adjusting entries performed in parta? (Ignore income taxes) Journal entry worksheet Record interest accrued on bank loan during December. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record the accrued marketing revenue earned in December. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Record entry Clear entry View general journal Journal entry worksheet