For each of the following transactions for Hosey Company, give the adjusting entry required for the year ended December 31, 2003, using the process illustrated in the chapter:

a. Received a $220 utility bill for electricity usage in December to be paid in January 2004.

b. Owed wages to 10 employees who worked three days at S 1 20 each per day at the end of December. The company will pay employees at the end of the first week of Januar\ 2004.

c. On September 1. 2003. loaned $3,000 to an officer who will repay the loan in one year at an annual interest rate of 12 percent.