Section 706.774 - Accounts for notes payable1. The account for short-term notes payable includes amounts owing on notes, drafts, acceptances or other similar evidences of indebtedness which are payable on demand or within 1 year from the date of issuance or acceptance, including interest. This account must also include, under appropriate subaccounts, notes, drafts, acceptances or other similar evidences of indebtedness which are payable to associated companies on demand or within 1 year from the date of issuance or acceptance, including interest. The information to be contained in this account must include the face value of the note, date made, date due, interest rate, payee and other identifying information.2. For reporting purposes, the current portion of the account for long-term notes payable represents the portion of a long-term note and the interest on it which is due within 1 year after the reporting date.Nev. Admin. Code § 706.774
Taxicab Auth., Uniform System of Accounts Reg. §§ 301 & 302, eff. 12-24-70; A 11-16-79