Definition of ironclad. 1  1 : sheathed in iron armor âused especially of naval vessels. 2  2 : so firm or secure as to be unbreakable: such asa : binding an ironclad oathb : having no obvious weakness an ironclad case against the defendant.
Best Answer: CR means a credit. If this appears on the balance due line of your statement, it means that you owe nothing and that you are that much ahead of future charges and no payment or acknowledgment is needed.
Traditionally, debit is abbreviated as DR;' whereas credit is abbreviated CR:' The T-account is also related to the balance sheet and accounting equation as follows: Balance Sheet Assets Liabilities Owners' Equity Assets are referred to as the left side of the balance sheet (and accounting equation) and hence are on the left side of the T-account.