439 New Trucks – Internet (Memo Account)

Sales

New Vehicle Department

Sales Synopsis

Account 439, New Trucks - Internet, is established as a memo account only to “break-out” sales produced by the dealership’s Internet marketing efforts.

Debits

Credits

 

  1. Actual selling price of new trucks sold as a result of Internet activity recorded in Account 423 – 438 above

 

639 New Trucks – Internet (Memo Account)

Cost of Sales

New Vehicle Department

Cost of Sales Synopsis

The inventory values of Trucks sold above is recorded as the Cost of Sales in this account.

Debits

Credits

  1. Cost of new trucks sold resulting from Internet promotions

 

 

Example 1

Record the sale of a new truck for the amount of $41,551 and a cost of $40,151 as a result of Internet promotions.

Journal: Statistical Data

Entry:

 

Debit

Credit

Account 639

Cost of Sales – New Trucks – Internet

$40,151

 

Account 439

Sales – New Trucks – Internet

 

$41,551

Comments

The Internet Sales for each respective Division should be recorded as indicated in the table below:

Account

(A)

(B)

(C)

(D)

(E)

(F)

(G)

(H)

439/639

Chevrolet

Pontiac

Oldsmobile

Buick

Cadillac

GMC Truck

Hummer

Saturn