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. The process includes (1) determining if revenue was earned or an expense was incurred, (2) determining whether cash was received or paid in the past or will be received or paid in the future, and (3) computing the amount of the adjustment. (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 $250 for December; to be paid in January of next year.

On September 1 of the current year, loaned $6,200 to an officer who will repay the loan principal and interest in one year at an annual interest rate of 10 percent.

Owed wages to 22 employees who worked three days at $150 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.