October 30, 2016 admin

Promotion—Body Shop

Expenses

PROMOTION—BODY SHOP EXPENSE ACCOUNT
7831

ACCOUNT EXPLANATION
Promotion costs that are directly related to the sale of body shop services. Includes handbills, placards, entertainment of prospective customers, gifts, and awards.
TRANSACTIONS
  Jrnl. Dr. Cr.
  Purchase of body shop promotional calendars for insurance estimators P
    Promotion—Body Shop 7831
      Accounts Payable—Trade 2100
             
  Cost of evening event to promote new body shop/equipment to local fleet managers P
    Promotion—Body Shop 7831
      Accounts Payable—Trade 2100
COMMENTS
  • Dealers should consult tax counsel for information as to documentation necessary to substantiate travel, entertainment, gifts and awards for income tax purposes.