Jax the Max Construction had $288,000 in Sales, $1,200 in Advertising Expense, $2,800 in Insurance Expense, $32,000 in Rent Expense, $4,500 in Depreciation Expense-Equipment, $1.100 Depreciation Expense-Vehicles, $68,000 in Wages Expense, $1,700 in Phone Expense, and $14,000 in withdrawals. What entry would be needed to close the income summary account? Debit Jax, Capital for $176,700 and credit Income Summary for $176,700 Ob. Debit Jax, Capital for $162,700 and credit Income Summary for $162,700 Debit Income Summary for $162,700 and credit Jax, Capital for $162.700 Od Debit Income Summary for $176,700 and credit Jax, Capital for $176,700