The F. Mercury capital account has a credit balance of 43,000 before closing entries are made. Total revenues for the period are 61,200, total expenses are 42,800 and total withdrawals are 11,400. What is the correct closing entry for the expense accounts?

1. Debit income summary 42,800; credit expense accounts 42,800
2. Debit expense accounts 43,000; credit F. Mercury capital 43,000
3. credit expense accounts 42,800; debit f. Mercury, capital 42,800
4. Debit expense accounts 42,800; credit income summary 42,800
5. Debit income summary 42,800, credit F Mercury, capital 42,800