Code of Federal Regulations Title 49. Transportation § 1201.755.755 Interest payable

This account shall include the amount of matured and unpaid interest on funded debt, and other obligations of the accounting company for which provision has been made for current settlement. This account shall also include the amount of interest subject to current settlement accrued to the date of the balance sheet, but payable after that date, on obligations of the accounting company.

Note: Interest payable on debt to affiliated companies, if subject to current settlement, shall be included in account 757, “Payables to affiliated companies.” Noncurrent interest shall be included in account 769, “Accounts payable; Affiliated companies.” Interest payable to others which is not paid when it matures shall be included in account 781. “Interest in default,” if not subject to current settlement. Where interest is in default, subsequent accruals shall be credited directly to account 781.