Prior Liens Outstanding on Acquired Collateral
Definition
This account is used to record the value of liens approved and accepted as being claims against assets acquired through loan defaults. This account does not close at year-end.
Year-end: This account does not close at year-end.
Source: Section II ·
p1sec2-acctdef-2026.pdf
Required attributes & legal values
8For each attribute this account reports, these are the only domain values GTAS will accept for this account (Section IV).
Begin/End
BulkFile attribute
B
E
Debit/Credit
BulkFile attribute
D
C
Fed/Nonfed
BulkFile attribute
N
Fund Type
TAS attribute
CF
DF
EC
EG
EM
EP
ER
ES
ET
GA
TR
UG
US
UT
Reporting Type Code
TAS attribute
E
F
U
Financing Account Code
TAS attribute
D
G
N
TAS Status
TAS attribute
U
E
Trans Code
TAS attribute
X
N
Transactions
6
B114
To record disbursement for liens on collateral acquired from defaulted loans guaranteed after 1992.
Debit · Proprietary entry D308 To record a prior-period adjustment that reduces the value of a liability.
Debit · Proprietary entry D312 To record a prior-period adjustment that increases the value of a prior-year liability.
Credit · Proprietary entry D426 To record an adjustment to loans receivable based on acquired collateral property.
Credit · Proprietary entry E514 To record the transfer-out of accounts payable and other liabilities to other federal entities without reimbursement.
Debit · Proprietary entry E610 To record the transfer-in of accounts payable and other liabilities from others without reimbursement.
Credit · Proprietary entry
Debit · Proprietary entry D308 To record a prior-period adjustment that reduces the value of a liability.
Debit · Proprietary entry D312 To record a prior-period adjustment that increases the value of a prior-year liability.
Credit · Proprietary entry D426 To record an adjustment to loans receivable based on acquired collateral property.
Credit · Proprietary entry E514 To record the transfer-out of accounts payable and other liabilities to other federal entities without reimbursement.
Debit · Proprietary entry E610 To record the transfer-in of accounts payable and other liabilities from others without reimbursement.
Credit · Proprietary entry