Required information [The following information applies to the questions displayed below.] Edwards Corporation operates hair salons under various brand names. The following is a simplified list of accounts and amounts (in millions) reported in the company's accounts for the year ended 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 $84 48 38 328 3 88 112 53 476 2 1 248 206 51 290 298 471 99 1,088 363 95 148 2. Prepare the closing entry required at June 30 2019 TIP The company reported a net loss of $86 in 2019 so the closing entry will

Required information [The following information applies to the questions displayed below] Fdwards Corporation operates hair salons under various brand names. The following is a simplified list of accounts and amounts (in millions) reported in the company's accounts for the year ended June 30, 2019. 2. Prepare the closing entry required at June 30, 2019. TIP: The company reported a net loss of $86 in 2019 , so the closing entry will need to debit (not credit) Retained Earnings for that amount. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1 Record the closing entry on June 30,2019. Note: Enter debits before credits. \begin{tabular}{|c|c|c|c|} \hline Date & General Journal & Debit & Credit \\ \hline June 30,2019 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular}