909 GM Reimbursements

Additions/Deductions

Addition to Income

Synopsis

Account 909 is established to record payments from General Motors for reimbursements earned under the Standards For Excellence (SFE) program and for amounts due under the Marketing Stimulus Payment (MSP).

Debits	Credits
	The amount of reimbursement from GM for earnings under the Standards For Excellence (SFE) program The amount of reimbursement due from GM for vehicles purchased under the Marketing Stimulus Payment (MSP) program

Example 1

Record the estimated reimbursement for the amount of $25,000 due under the Standards For Excellence (SFE) program.

Journal: General Journal

Entry:		Debit	Credit
Account 261	Factory Receivables - Reimbursements	$25,000
Account 909	GM Reimbursements		$25,000

Example 2

Record amount due for vehicles purchased included the Marketing Stimulus Payment (MSP) program. Example based on month end factory summary of $8,584.

Journal: Purchase Journal

Entry:		Debit	Credit
Account 261	Factory Receivables - MSP	$8,584
Account 909	GM Reimbursements		$8,584