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LSDefine

Simple English definitions for legal terms

credit balance

Read a random definition: export declaration

A quick definition of credit balance:

Term: Credit Balance

Definition: A credit balance is when there is more money added to an account than taken out. This means that the total amount of money that has been credited to the account is greater than the total amount of money that has been debited from the account.

A more thorough explanation:

Definition: A credit balance is the status of an account when the total amount of credit entries is greater than the total amount of debit entries.

Example: Let's say you have a credit card account with a balance of $500. You make a payment of $300, which is a debit entry, and then you receive a refund of $100, which is a credit entry. The total amount of credit entries is now $100, and the total amount of debit entries is $300. This means that your account has a credit balance of $100.

Another example: You have a savings account with a balance of $1,000. You deposit $200, which is a credit entry, and then you withdraw $100, which is a debit entry. The total amount of credit entries is now $200, and the total amount of debit entries is $100. This means that your account has a credit balance of $100.

The examples illustrate the definition of credit balance by showing how it is determined by comparing the total amount of credit entries to the total amount of debit entries in an account. When the total amount of credit entries is greater than the total amount of debit entries, the account has a credit balance.

creditable | credit card

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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