Insurance
Marine Cargo Premium Written
Underwriting a marine cargo open cover policy for a trader's annual import shipments.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Premium Receivable — Marine Cargo | Asset (+) | 3,200.00 | - |
| Written Premium — Marine Cargo | Revenue (+) | - | 3,200.00 |
💡 Accountant's Note
Marine cargo covers goods in transit by sea, air, or land. Open covers automatically insure each shipment declared. Premium is typically based on cargo value × rate per mille.
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