Edwards Corporatlon operates hair salons under varlous brand names. The following is a simplified list of accounts and

amounts $($In millions$)$ reported in the company's accounts for the year encled June $30,2019.$

Accounts Payable

Accounts Receivable

Accumulated Amortization

Accumulated Depreciation

Amortization Expense

Cash

Common stock

Depreciation Expense

Equipment

Income Tax Expense

Interest Expense

Notes Payable $($long$-$term$)$

office Expense

Prepaid Rent

Rent Expense

Retained Earnings

Salaries and Wages Expense

Salaries and Wages Payable

Service Revenue

Software

Supplies

Supplies Expense

Prepare the closing entry required at June $30,2019.$ TIP: The company reported a net loss of $$174$ in $2019,$ so the closing entry will

need to debit $($not credit$)$ Retalned Earnings for that amount. $($Enter your answers In millions $($I$.$e$.,10,000,000$ should be entered as

$.$ If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Requlred" In the first account fleld.$)$

Journal entry worksheet

$1$

Record the closing entry on June $30,2019.$

Note: Enter debits before credits.