479 Paint and Body Shop Materials

Sales

Fixed Operations

Sales Synopsis

Account 479 is established to record the sales of Paint and Body Shop Materials used on Body Shop repairs.

Debits

Credits

 

  1. Actual selling price of Paint, Body Shop and similar Material sold

  2. Actual selling price (at claim rate) of Paint, Body Shop and similar Materials for which Warranty and Transportation Claims are filed

 

679 Paint and Body Shop Materials

Cost of Sales

Fixed Operations

Cost of Sales Synopsis

Account 679 is established to record the Cost of Sales of Paint and Body Shop Materials sold in Account 479 above.

Debits

Credits

  1. Cost of Paint, Body Shop and similar Materials sold

  2. Adjustment of the Paint and Body Shop Materials inventory

 

  1. Adjustment of the Paint and Body Shop Materials inventory