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2 https:// Check my work mode : T his shows what is correct or incorrect for the work you have completed so far. It does not indicate comp Sweeney & Allen, a large marketing firm, adjusts its acc year ending December 31. ounts at the end of each month. The following information is available for the on December 1. Accrued interest on the loan at December 31 amounts to $1.260. No interest expense has yet been recorded of the firm's office building is based on an estimated life of 30 years. The building was purchased four years ago for $340,000 3. Accrued, but unbilled, revenue during December amounts to $71,000. 4. On March 1, the firm paid $1,500 to renew a 12-month insurance surance policy. The entire amount was recorded as Prepaid Insurance firm received $15,000 from King Biscuit Company in advance of developing a six-month marketing campaign. The entire amount was initially recorded as Unearned 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 De cember 31 fell on a Wednesday, there was an accrued liability for salaries amounting to $2,600 a. Record the necessary adjusting journal entries on December 31 b. By how much did Sweeney&Allen's net income (Ignore income taxes.) increase or decrease as a result of the adjusting entries performed in part a? Answer is not complete. Complete this question by entering your answers in the tabs below Record the necessary adjusting journal entries on December 31. (If no entry is required for a transaction/event, select "No rad in

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