An employee of Service Company prepared the following closing entries from the ledger accounts for the year of 19 - LO8 a Identify any errors which the employee made, b Prepare correct closing entries for the business.

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Entry 1 Lawn Service Revenue Accumulated Depreciation. Accounts Payable Income Summary To close accounts with credit balances. Entry 2 Income Summary Salaries Expense. J. Doe, Drawing Advertising Expense. Depreciation Expense. To close accounts with debit balances. Entry 3 J. Doe, Capital Income Summary To close Income Summary account. 124,800 12,800 43,200 180,800 116,800 89,600 17,600 6,400 3,200 64,000 64,000