InfopathProgramming and automation discussions only please. :)
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Let me explain...
it is an IF statement
the true result being ../../../my:OpeningBal
the false result being preceding-sibling::*[1]/ClosingTransBalance
i.e. it sets the value to the field ClosingTransBalance of the previous item in the Repeating table.
Condition: count(preceding-sibling::*/TransID) = 1
it counts whether there is ONE item in the items repeating table