[danielmarkbruce]

It's also technically wrong.

For example, a bank might decide you likely can't pay your loan and write it down to zero. You might still have the liability on your books because you plan to repay it. They'll make the relevant entries in their system (and the debits and credits will balance) and you'll do nothing (which balances).

Double entry bookkeeping has zero to do with other entities. It's solely about your own books.