Closing Entries for Nordstrom
The following accounts appear on Nordstrom's 2011 financial statements as reported in its Form 10-K for the fiscal year ended January 28, 2012. The accounts are listed in alphabetical order, and the balance in each account is the normal balance for that account. All amounts are in millions of dollars. Prepare closing entries for Nordstrom for 2011.
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Cash Dividends Paid
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$197
|
|
Cost of Sales and Related Buying and Occupancy Costs
|
6,592
|
|
Credit Card Revenues
|
380
|
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Income Tax Expense
|
436
|
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Interest Expense, net
|
130
|
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Net Sales
|
10,497
|
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Selling, General and Administrative Expenses: Credit
|
229
|
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Selling, General and Administrative Expenses: Retail
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2,807
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