Insurance
Premium Instalment Payment Received
Collecting a quarterly instalment from a policyholder who pays in four equal parts.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash / Bank | Asset (+) | 300.00 | - |
| Premium Receivable | Asset (-) | - | 300.00 |
💡 Accountant's Note
Instalment payments clear the premium receivable. The full annual premium was written and partially deferred at policy inception — the instalment is simply the cash settlement of the receivable.
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