4122 – Non-Certified Used Subaru – Retail

Used Vehicle Department

Sales Synopsis

Account 4122

Debits

Credits

 

  1. The gross sales price of used Non-Certified Subaru vehicles sold at retail.

6122 – Non-Certified Used Subaru – Retail

Used Vehicle Department

Cost of Sales Synopsis

Account 6122

Debits

Credits

  1. The current inventory value (excluding reconditioning costs) of used Non-Certified Subaru vehicles retailed.

 

 

 

Remarks:

When used vehicles are sold at retail, reconditioning costs should be recorded separately to Non-Certified Used Subaru Reconditioning (Account 638) in the used vehicle sales journal.

Charges incurred for separate items, such as title search fees, should be included in the cost of sales of the vehicle.  Such items should not be considered as offsetting credits to expense or as other income unless required by law.

Discounts and over allowances on used vehicle sales should be netted against the gross sale amount inasmuch as a separate account has not been provided for these items.

All sales and cost data should be recorded on the vehicle inventory record, at the time of sale.

Note: