367.4290—Account 429, Amortization of premium on debt—Credit.
(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.
(4)
Preliminary survey and investigation expenses related to abandoned projects, when not written-off to the appropriate operating expense account.