The Jingle Corporation had the following situations on December $2024.$

On December $10,2024,$ Jingle received a $$4,900$ payment from customer and credited deferred service revenue. The services to the customer were completed by December $31,2024.$

On December $1,2024,$ the company paid a local radio station $$3,800$ for $40$ radio ads that were to be aired, $20$ per month, throughout December and January. Prepaid advertising was debited at the time the advertising was paid.

Employee salaries for the month of December totaling $$25,000$ will be paid on January $7,2025.$

On August $31,2024,$ Jingle borrowed $$55,000$ from a local bank. A note was signed with principal and $9\%$ interest to be paid on August $31,2025.$

If none of the adjusting journal entries were recorded, would assets, liabilities, and shareholders' equity on the December $31,2024$ balance sheet be higher or lower and by how much?

Note: Decreases to account classifications should be entered as a negative.

The Jingle Corporation had the following situations on December $2024.$

On December $10,2024,$ Jingle received a $$4,900$ payment from a customer and credited deferred service revenue. The services to the customer were completed by December $31,2024.$

On December $1,2024,$ the company paid a local radio station $$3,800$ for $40$ radio ads that were to be aired, $20$ per month, throughout December and January. Prepaid advertising was debited at the time the advertising was paid.

Employee salaries for the month of December totaling $$25,000$ will be paid on January $7,2025.$

On August $31,2024,$ Jingle borrowed $$55,000$ from a local bank. A note was signed with principal and $9\%$ interest to be paid on August $31,2025.$

If none of the adjusting journal entries were recorded, would assets, liabilities, and shareholders' equity on the December $31,2024$ balance sheet be higher or lower and by how much?

Note: Decreases to account classifications should be entered as a negative.