Section 367.4270 - Account 427, Interest on long-term debt(a) This account must include the amount of interest on outstanding long-term debt issued or assumed by the service company, the liability for which is included in account 224, Other long-term debt (§ 367.2240 ) .(b) This account must be kept or supported so as to show the interest accruals on each class and series of long-term debt.(c) This account must not include interest on nominally issued or nominally outstanding long-term debt, including securities assumed.