Bit 🐳 Ish on Nostr: It's accounting magic. When they lend out your deposit they debit cash and credit ...
It's accounting magic. When they lend out your deposit they debit cash and credit accounts receivable. It's all fine until those AR's default and become written off. Then they can just credit their bad debt account and write off a debit on their AR. There's no incentive to fix this since they can take a tax deduction on their bad debts.
Published at
2025-02-12 02:14:19Event JSON
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