§ 367.4290. Account 429, Amortization of premium on debt---Credit.
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/us/cfr/t18/s§ 367.4290·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)This account must include the amortization of unamortized net premium on outstanding long-term debt. Amounts credited to this account must be charged concurrently to account 225, Unamortized premium on long-term debt (§ 367.2250).
(b)This account must be kept or supported so as to show the premium on each class and series of long-term debt.
(c)This account must include the following items:
(1)Loss relating to investments in securities written-off or written-down.
(2)Loss on sale of investments.
(3)Loss on reacquisition, resale or retirement of service company's debt securities.
(4)Preliminary survey and investigation expenses related to abandoned projects, when not written-off to the appropriate operating expense account.