AirParts Corporation reported a net operating loss of $15 million for financial reporting and tax purposes. Taxable income last year and the previous year, respectively, was $16 million and $11 million. The enacted tax rate each year is 30%. Prepare the journal entry to recognize the income tax benefit of the net operating loss. AirParts elects the carryback option. (If no entry is required for a particular event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the entry to recognize the income tax benefit. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal