Grinding accounts, also known as wiping accounts, generally refers to the process of buying and selling businesses, through the signing of agreements, so that their accounts receivable,

This form of payment was against the shortage of funds and the spread of triangular debts in the 90s of last century.

For example:

A buys the raw materials of B, but he can't pay the money.

C sells products of A, and at the same time, C and B may be related, so that three can easily sign an agreement and give A to C.

In practice, there may be more than three parties, and there may be some additional conditions.

This way of clearing up and going is like turning around.