§ 367.2250. Account 225, Unamortized premium on long-term debt.
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/us/cfr/t18/s§ 367.2250·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)This account must include the excess of the cash value of consideration received over the face value upon the issuance or assumption of long-term debt securities.
(b)Amounts recorded in this account must be amortized over the life of each respective issue under a plan that will distribute the amount equitably over the life of the security. The amortization must be on a monthly basis, with the related amounts credited to account 429, Amortization of premium on debt---Credit (§ 367.4290) (see General Instructions in § 367.16).