Insurance
Salvage & Subrogation Recovery
Recovering value from salvaging a written-off vehicle or pursuing a third party who caused the loss.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash / Salvage Proceeds | Asset (+) | 3,000.00 | - |
| Claims Expense (Salvage Recovery) | Expense (-) | - | 3,000.00 |
💡 Accountant's Note
Salvage (value recovered from the damaged asset) and subrogation (recovery from the at-fault third party) reduce the net claims cost. They are recognized when recovery is virtually certain.
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