In each of the following transactions (a) through ( c ) for Catena's Marketing Company, indicate the effect of the adjusting entry on the elements of the balance sheet and income statement. Note: Reductions in account balances should be indicated with a minus sign. a. Estimated electricity usage at $360 for December; to be paid in January of next year. b. On September 1 of the current year, loaned $6,900 to an officer who will repay the loan principal and interest in one year at an annual interest rate of 11 percent. c. Owed wages to 15 employees who worked six days at $230 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