Banking
Bank Guarantee Commission Income
Earning the quarterly commission for maintaining an outstanding performance guarantee.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Customer Account / Cash | Asset/Liability (-) | - | 2,500.00 |
| Guarantee Commission Income | Revenue (+) | - | 2,500.00 |
💡 Accountant's Note
Guarantee commissions are recognized ratably over the guarantee validity period. For a JOD 500,000 guarantee at 2% p.a., the quarterly income is JOD 2,500.
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