NAC706.401974. Account for accrued interest.

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The account for accrued interest must include the amount of interest accrued but not due on all liabilities of the company, other than interest added to the principal of the debt on which incurred. The account for accrued interest must include, without limitation, interest incurred on contracts payable. Supporting records must be maintained to show the amount of interest accrued on each obligation.

(Added to NAC by Transportation Serv. Auth. by R040-02, eff. 9-20-2002)

                    
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