October 30, 2016 admin

Ford Receivable—Incentives

Assets

FORD RECEIVABLE—INCENTIVES ASSET ACCOUNT
1170

ACCOUNT EXPLANATION
Amounts due from Ford Motor Company on special incentive programs, new vehicle rebate programs, heavy duty truck resale incentive plans, commissions earned on vehicles sold under programs.
TRANSACTIONS
  Jrnl. Dr. Cr.
  New Car incentive earned G
    Ford Receivable—Incentives 1170
      Car Incentives 4380
      Truck Incentives     4620
             
  Check received in settlement of sales incentive CR
    Cash in Bank—General 1001
      Ford Receivable—Incentives 1170
COMMENTS
  • Computation of amounts due and maintenance of subsidiary records should be in accordance with Ford Motor Company instructions on individual programs.
  • At month end, the total of open and unpaid items should be reconciled to the balance of this account.