Reconstructing Journal Entries, Posting Lowe's Companies, Inc. operates nearly 900 home improvement retail stores in 44 states. It is the fourteenth largest retailer in the United States. A partial income statement from its annual report for the fiscal year ending January 31, 2003 showed the following actual numbers and nomenclature ($ in millions):

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Net sales Expenses Cost of sales Selling, general, and administrative expenses Other expenses Total costs and expenses Pretax earnings $26,491 $18,465 4,730 937 24,132 $ 2,359 1. Prepare four summary journal entries for the given data. Label your entries a through d. Omit explanations. For simplicity, assume that all transactions except for cost of sales were for cash. 2. Post to T-accounts in a ledger for all affected accounts. Key your postings by transaction letter.