$3\mathrm{.}33$

points

Item $2$

For each of the following transactions $($a$)$ through $($c$)$ for Catena's Marketing Company, prepare the adjusting entry at the end of the current year, December $31.$ The process includes $(1)$ determining if revenue was earned or an expense was incurred and $(2)$ determining whether cash was received or paid in the past or will be received or paid in the future.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Round your final answers to nearest whole dollar value.

Estimated electricity usage at $$210$ for December; to be paid in January of next year.

On September $1$ of the current year, loaned $$5,900$ to an officer who will repay the loan principal and interest in one year at an annual interest rate of $12$ percent.

Owed wages to $20$ employees who worked four days at $$160$ 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.