In each of the following transactions (a) through (c) for Romney's Marketing Company, use the three-step process illustrated in the chapter to record the adjusting entry at the end of the current year. Indicate the amounts and direction of effects of the adjusting entry on the elements of the balance sheet and income statement. Indicate + for increase, − for decrease. a. Estimated electricity usage at $230 for December; to be paid in January of next year. b. On September 1 of the current year, loaned $5,300 to an officer who will repay the loan principal and interest in one year at an annual interest rate of 13 percent. c. Owed wages to 27 employees who worked 5 days at $170 each per day at the end of the current year. The company will pay employees at the end of the first week of next year.