Following are Nintendo’s revenue and expense accounts for a recent calendar year (yen in millions). Prepare the company’s closing entries for its revenues and its expenses.
Net sales . . . . . . . . . . . . . . . . . ¥1,838,622
Cost of sales . . . . . . . . . . . . . . . . 1,044,981
Advertising expense . . . . . . . . . . . 117,308
Other expense, net . . . . . . . . . . . . . 397,244