Code of Federal Regulations Title 49. Transportation 49 CFR § 1201.754 754 Accounts payable;  other

This account shall include outstanding drafts drawn by station agents, conductors' refund and extra-fare checks not presented for redemption, taxes collected from employees and others for the account of taxing agencies, and other items of the nature of demand liabilities not covered by accounts 751, 752, 753, 755, 756, and 757.

Note A:  The amount to be reported under this account is not the net balance between this account and account 707, “Accounts receivable;  Other.”

Note B:  The amount of checks and drafts, which have been transmitted to payees and which remain unpaid at the close of the accounting period, shall be credited to account 701, “Cash.” When the amount of such checks and drafts cannot be determined with absolute accuracy an estimate of the amount shall be used.

Note C:  Deposits and other items of affiliated companies subject to current settlement shall be included in account 757, “Payables to affiliated companies.”