Insurance
General Liability Premium Written
Underwriting a commercial general liability (CGL) policy for a manufacturing company.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Premium Receivable — GL | Asset (+) | 8,000.00 | - |
| Written Premium — General Liability | Revenue (+) | - | 8,000.00 |
💡 Accountant's Note
CGL policies cover third-party bodily injury and property damage arising from business operations. Claims are often long-tail — bodily injury suits may take years to settle.
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