In each of the following transactions (a) through (c) for Romney's Marketing Company, use the three-step process given below to record the adjusting entry at year-end December 31, 2015. 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. Estimated electricity usage at $350 for December; to be paid in January 2016. On September 1, 2015, loaned $5,700 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 15 employees who worked five days at $180 each per day at the end of December. The company will pay employees at the end of the first week of January 2016