Credit card companies send out checks that you can write to other creditors to pay off the balance. In turn, you get the balance of the other account transfered to your new account (the one who sent you the checks)… Full Answer
Your account balance can easily be accessed by visiting your banker's site,click on account balance after putting your account no and you will have it instantly. Or you can update your bank passbook to ascertain your account balance.
a closing balance is the amount of money that is in the account when the bank sends out the statement of the cut-off date for that month. for example if you have $75.00 in your account on December 15th, and… Full Answer
A contra account balance is a debit balance account. It is a general ledger account that has a balance that is an exact opposite of a normal balance. Contra accounts are generally used to report the gross and the net… Full Answer
A contra-account is a sub-account or a related account that normally has the opposite balance, thereby reducing the balance of the main account. For example, Reserve for Bad Debts is a contra-account to Accounts Receivable. A/R normally has a debit… Full Answer
The balance of payments, then, is the sum of the balance on current account and the balance on capital and financial account. It is important to understand that the deficit indicated by the current account is financed through activities recorded… Full Answer