1) James Service Company earned revenues of $100,000 and incurred expenses of $107,000. Prepare the entry to close the Income Summary account. 2) Ellis Service Company had the following unadjusted balances at December 31, 2016: Salaries Payable, $0; Salaries Expense, $12,000. The following transactions took place on December 31, 2016: They accrued Salaries Expense, $5,000 They closed the Salaries Expense account The following transaction took place on January 4, 2017: They paid salaries of $6,000. This payment included $5,000 that was accrued on December 31, 2016 and $1,000 for the first few days in January 2017. Prepare the journal entry for January 4, 2017, assuming that reversing entries were not made