NAC706.789. Account for accrued interest.

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The account for accrued interest includes the amount of interest accrued but not due on all liabilities of the company except interest added to the principal of the debt on which incurred, for example, contracts payable. Supporting records must be maintained to show the amount of interest accrued on each obligation.

[Taxicab Auth., Uniform System of Accounts Reg. § 323, eff. 12-24-70; A 11-16-79]

                    
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