Secure http// h. 4.Exercises Help Save & Exit Check my v 3 Exercise 4.7 Preparing Various Adjusting Entries (LO4-1, LO4-2, LO4-3, LO4-4, LO4-5, LO4-6, LO4-9 Sweeney & Allen, a large marketing firm, a Justs its accounts at the end of each month. year ending December 31 The folowing information is available for the 1 A banik loan had been obtained on December 1. Accrued interest on the loan at December 31 amounts to $1,010. No interest expense has yet been recorded 2 Deprecation of the fem's office building is based on an estimated afe of 30 years. The building was purchased four years ago for $400,000 3. Accrued, but unbiled, revenue during December amounts to $62000 4. On March 1the firm pad $1600 to renew a 12-month insurance polcy The entire amount was recorded as Prepaid Insurance 5. The frm received S15,000 from King Biscuit Company in advance of developing a stx-month marketing campaign. The entire amount was initially recorded as Unearned Revenue At December 31, $3.900 had actually been eamed by the firm 6. The company's polcy is to pay ts employees every Friday. Since December 3f fell on a Wednesday. there was an accrued lablity for salaries amounting to $1800. 31. b. By how much did Sweeney & Allen's net icome increase or decrease as a result of the adjusting entries performed in part Ignore income taxes) Complete this question by entering your answers in the tabs below pe here to search 5 6 8 9