Interest—Floor Plan—Used – Ford Online Accounting Manual

Expenses

INTEREST—FLOOR PLAN—USED	EXPENSE ACCOUNT
	7380

Interest expense paid or accrued on loans obtained to finance used vehicles excluding vehicles in demonstrator service.

Includes flat rate charges and inventory insurance costs included in used vehicle floor plan charges.

			Jrnl.	Dr.	Cr.

Monthly accrual of interest on funds borrowed on used vehicle inventory			SE
	Interest—Floor Plan—Used			7380
		Accrued Interest			2421

The cost of financing and insurance applicable to vehicles in demonstrator service should be charged to Account 7150, Demonstrator Expense—New; Account 7350, Demonstrator Expense—Used; Account 7680, Equipment & Vehicle Maintenance—Parts; Account 7780, Equipment & Vehicle Maintenance—Service; or Account 8780, Equipment & Vehicle Maintenance—General, as appropriate.
If used vehicle activities are organized into two or more separate departments, charges to this account should be distributed directly to the departments generating the expense. See Departmentalization for further information.