Sec. 32.1210  Interest and dividends receivable.

    (a) This account shall include the amount of interest accrued to the 
date of the balance sheet on bonds, notes, and other commercial paper 
owned, on loans made, and the amount of dividends receivable on stocks 
owned.
    (b) This account shall not include dividends or other returns on 
securities issued or assumed by the company and held by or for it, 
whether pledged as collateral, or held in its treasury, in special 
deposits, or in sinking and other funds.
    (c) Interest receivable under monthly settlements on short-term 
loans, advances, and open accounts, shall be included in Account 1180, 
Telecommunications Accounts Receivable or Account 1190, Other Accounts 
Receivable, as appropriate.
    (d) Dividends received and receivable from affiliated companies 
accounted for on the equity method shall be included in Account 1401, 
Investments in Affiliated Companies, as a reduction of the carrying 
value of the investment.