--When pre-1992 direct loans are repaid in whole or in part, the entity exchanges one asset (loans receivable) for another (cash) with equal value.
Pre-1992 direct loans can no longer be repaid.
mnli hypothesis: Pre-1992 direct loans can no longer be repaid. premise: --When pre-1992 direct loans are repaid in whole or in part, the entity exchanges one asset (loans receivable) for another (cash) with equal value.