Final answer:
A Closing Statement is the document detailing credits and balances due on closing in balance sheet form, particularly used in real estate transactions to finalize financial settlements.
Step-by-step explanation:
The document that sets out credits and balances due on closing in balance sheet form is the Closing Statement. This document is typically used in real estate transactions and outlines the final financial details and settlement figures between the buyer and seller. It includes adjustments for items such as prorated taxes, prepaid insurance, and other charges that need to be settled as of the closing date.