29 – Interest – Floor Plan Assistance

Vehicle Selling Expenses

Synopsis

Account 29

Debits

Credits

  1. Adjustments to previously recorded Floor Plan Assistance.

 

  1. The amount credited by the factory to offset floor plan expense.  This account should carry a credit balance as it is a contra expense.

 

Remarks:

Record floor plan credits from the factory in this account.  Do not offset Floor Plan Expense, Account 15 with credits from the factory.