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Loan Accounting Reveals True Creditor PDF
Loan Accounting Reveals True Creditor PDF
United States Treasury (UST) - General Ledger ASSETS LIABILITIES CASH - Asset ====================== Accounts Payable - JHD =======================
2.
200B1 100K3
Accounts Receivable - JHD ======================
200B1 100K2
100K2 100K3
3.
ASSETS
4. ABC Bank receives said cash from UST and debits its cash account, and then credits the borrowers transaction account for same amount to show the source of funds. NOTE: the borrower never receives a deposit slip receipt for this amount, which eventually is considered abandoned and is therefore claimed by the bank, . 5. ABC Banks pays a seller said funds from Cash account, and then debits an Accounts Receivable account that JHD must pay the bank as the loan. If the borrower would simply claim said deposit slip for #4 A/P account, its funds could setoff the loan for this same amount posted in this #5 A/R account.
Cash ======================
100K4 100K5
Accounts Receivable - JHD ======================
100K4 100K6
Modern Money Mechanics, Illustration #3, confirms the existence of this Accounts Payable Liability entry that is due to the alleged Borrower, the True Creditor! This truth should enable anyone to simply indorse any bill as the True Creditor and discharge it dollar for dollar!
100K5 100K6
6.