859 – Lease & Rental Expense

Deductions From Income

Synopsis

Account 859

Debits

Credits

  1. Expense related to lease and rental vehicles when the respective activity is part of the retailer operation and in accordance with the contractual terms.

 

 

Remarks:

Included in this account are such items as gasoline, maintenance, repairs, license fees, titles, taxes, depreciation, insurance, interest, salaries, wages, commissions, pick-up/delivery, advertising/promotion, and bad debts.