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E sales tax showed an opening credit balance of $4,540 at the beginning of the month and a closing debit balance of $2,270 at the end of the month.
-What does” an opening credit balance of $4,540″ mean? Is it a balance b/d or c/d and on which side it appears( DR or CR)
-What does”a closing debit balance of $2,270″ mean?Is it a balance b/d or c/d and on which side it appears( DR or CR)
I do have watched your free lecture notes but still facing some difficulties in understanding this.
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