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	Sample Question for Agency Accounting and Bookkeeping
	An agency has billed a client for an agency-billed liability policy for a $450 installment payment and it has billed the same client for an agency-billed umbrella policy for $780. A partial payment of $300 has been received from the client and needs to be applied to the client’s account. The best way to do that is:  A: apply the $300 to the liability policy because it is an underlying policy to the umbrella  B: split the $300 into equal halves of $150 and apply $150 to each policy’s invoice  C: put the $300 “on account” and wait for the rest of the amounts due  D: confirm with the client, either directly or through the Producer or Service Rep, to which policy to apply the partial payment of $300
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