Tara Westmont, the proprietor of Tiptoe Shoes, had annual revenues of $199,000, expenses of $110,700, and withdrew $23,600 from the business during the current year. The owners capital account before closing had a balance of $311,000. The entry to close the Income Summary account at the end of the year, after revenue and expense accounts have been closed, is:

Debit T. Westmont, Capital $311,000; credit Income Summary $311,000

Debit T. Westmont, Capital $64,700; credit Income Summary $64,700

Debit Income Summary $64,700; credit T. Westmont, Capital $64,700

Debit Income Summary $88,300, credit T. Westmont, Capital $88,300

Debit T. Westmont, Capital $88,300, credit Income Summary $88,300