Statutes, codes, and regulations
Code of Massachusetts Regulations
Department 220 CMR - DEPARTMENT OF PUBLIC UTILITIESTitle 220 CMR 50.00 - Uniform System Of Accounts For Gas CompaniesLIABILITIES AND OTHER CREDITS
RESERVES
Section 260 - Reserve for Uncollectible Accounts

220 CMR, 50, 260

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Current through Register 1533, October 25, 2024
Section 260 - Reserve for Uncollectible Accounts
A. This account shall be credited with amounts provided for losses on accounts receivable which may become uncollectible, and also with collections on accounts previously charged hereto. Concurrent charges shall be made to account 904, Uncollectible Accounts, for amounts applicable to utility operations, and to corresponding accounts for other operations. Records shall be maintained so as to show the write-offs of accounts receivable for each utility department.
B. This account shall be subdivided to show the provision applicable to the following classes of accounts receivable:

Utility Customers

Merchandising, Jobbing and Contract Work

Officers and Employees

Others

220 CMR, 50, 260

NOTE A. - Accretions to this account shall not be made in excess of a reasonable provision against losses of the character provided for.

NOTE B. - If provisions for uncollectible notes receivable or for uncollectible receivables from associated companies are necessary, separate subaccounts therefor shall be established under the account in which the receivable is carried.