Accounts Receivable—F.M.C.C. Leasing Plan – Ford Online Accounting Manual

Assets

ACCOUNTS RECEIVABLE—F.M.C.C. LEASING PLAN	ASSET ACCOUNT
	1135

Income from the sale of Lease Contracts.

			Jrnl.	Dr.	Cr.

Rental Security deposit received from lessee			CR
	Cash in Bank—General			1001
		Accounts Receivable—F.M.C.C. Lease Plan			1135

First Month Rental payment received from Lessee			CR
	Cash in Bank—General			1001
		Accounts Receivable—F.M.C.C. Lease Plan			1135

Sale of Vehicle and Assignment of Lease to F.M.C.C.			VS
	Accounts Receivable—F.M.C.C. Lease Plan			1135
	Accounts Receivable—F.M.C.C. Deferred Gross			1836
		Sales All Fleet Cars			3350
		Sales Fleet Light Trucks			3470
		Income from Sale of Lease Contracts			5300

Advance Received from F.M.C.C. on Sale of Vehicle and assignment of Lease			CR
	Cash in Bank—General			1001
		Accounts Receivable—F.M.C.C. Lease Plan			1135

For financial statementpurposes, Account 1135, Accounts Receivable—F.M.C.C.—Lease Plan, should be combined with Account 1130, Accounts Receivable—Other.
Special treatment of leasing and rental transactions may be required for federal, state and local tax purposes. Legal and tax counsel should be consulted as necessary.