Customer Repossession Refund—New

• ACCOUNT EXPLANATION
• TRANSACTIONS
• COMMENTS

Direct write-off of repossession surplus refunds on new vehicles.

*Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers

• Direct write-off of all new vehicle repossession surplus refunds should be recorded to this account.
• This account is to be used in conjunction with instructions contained in Section O (Repossession Practices not available) of the Ford Dealer Accounting Procedure Manual—DETERMINATION AND REFUND OF REPOSSESSION SURPLUSES.