Closing Entries for Nordstrom The following accounts appear on Nordstrom’s 2006 financial statements. The accounts are listed in alphabetical order, and the balance in each account is the normal balance for that account. All amounts are in thousands of dollars. Prepare closing entries for Nordstrom for 2006.

Transcribed Image Text:

Cash dividends paid Cost of sales and related buying and occupancy costs Income tax expense Interest expense, net Other income including finance charges, net Net sales Selling, general and administrative expenses $ 110,158 5,353,949 427,654 42,758 238,525 8,560,698 2,296,863