Real Estate
Annual Property & Liability Insurance
Paying the yearly insurance premium covering the building structure and public liability.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Prepaid Insurance (Property) | Asset (+) | 12,000.00 | - |
| Cash / Bank | Asset (-) | - | 12,000.00 |
💡 Accountant's Note
Building insurance is a prepaid asset, expensed at JOD 1,000 per month over the 12-month coverage period.
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