(a) Current assets are cash, those assets that are readily convertible into money or are held for current use in operations or construction, advance payments made by the utility benefit of which is to be realized within a relatively short period, current claims against others payment of which is reasonably assured, and amounts accruing to the utility which are subject to current settlement.

(b) In the group of accounts designated as current assets (accounts 121 to 131) there shall not be included any item the amount of collectibility of which is not reasonably assured or for which provision has not been made in account 266, Reserve for Uncollectible Accounts. Items of current character but of doubtful value may be carried in these accounts at a nominal value or included in account 145, Miscellaneous Suspense, at book cost or nominal value, or written off, as may be appropriate.

(c) Adjustments to accomplish the writing down of items of doubtful value not covered by reserves shall be made through account 514, Miscellaneous Debits to Surplus, or other appropriate account.