The partnership of Jon, Kel, and Gla was created on January $2,2016,$ with each of the partners contribut ing cash of $$30,000.$ Reported profits, withdrawals, and additional investments were as follows:

Reported Net Income

Withdrawals Additional Investments

$2016$

$$19\mathrm{.}000$

$$4,000$ Kel

$$5,000$ Gla

$5,000$ Jon

$2017$

$22,000$

$8,000$ Gla

$5,000$ Jon

$3,000$ Kel

$2018$

$29,000$

$2,000$ Gla

$6,000$ Gla

$4,000$ Kel

The partnership agreement provides that partners are to be allowed $10$ percent interest on the beginning$-$of$-$the$-$year capital balances, that Jon is to receive a $$7,000$ salary allowance, and that remaining profits are to be divided equally.

After the books were closed on December $31,2018,$ it was discovered that depreciation had been understated by $$2,000$ each year and that the inventory taken at December $31,2018,$ was understated by $$8,000.$

REQUIRED

$1.$ Calculate the balances in the three capital accounts on January $1,2019.$

$2.$ Calculate the balances that should be in the three capital accounts on January $1,2019,$ taking into account the corrections that must be made for errors made in the calculation of income in the prior years.

$3.$ Give the journal entry $($one entry$)$ to correct the books on January $12019.$