Current through Register Vol. 54, No. 25, June 22, 2024
Section 147.5 - Control accounts(a) Dealers shall maintain in their general ledgers, or equivalent books of record, separate control accounts covering the following items: (1) Accounts receivable arising from sale of merchandise.(2) Amounts due a dealer for loans, advances, notes and equipment.(3) Payments made to customers for any purpose.(b) Dealers shall maintain a subsidiary record for each customer or subdealer in support of the control accounts.