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ACCOUNTS RECEIVABLE AND NOTES RECEIVABLE, NET OF ALLOWANCE
 6 Months Ended
Jun. 30, 2021
Receivables [Abstract]  
ACCOUNTS RECEIVABLE AND NOTES RECEIVABLE, NET OF ALLOWANCE ACCOUNTS RECEIVABLE AND NOTES RECEIVABLE, NET OF ALLOWANCE
Accounts Receivable

Accounts receivable represents outstanding balances from sending agents for pending wire transfers or money orders from our customers. The outstanding balance, net of allowance for credit losses, consists of the following (in thousands):

June 30, 2021December 31, 2020
Accounts receivable$72,026 $56,520 
Allowance for credit losses(1,486)(1,503)
Accounts receivable, net$70,540 $55,017 

Notes Receivable

The Company had notes receivable, net of allowance for credit losses, from sending agents as follows (in thousands):

June 30, 2021December 31, 2020
Notes receivable, current$630 $710 
Allowance for credit losses(215)(244)
Net current$415 $466 
Notes receivable, long-term$921 $816 
Allowance for credit losses(327)(295)
Net long-term$594 $521 

The net current portion of notes receivable is included in prepaid expenses and other current assets (see Note 4), and the net long-term portion is included in other assets in the condensed consolidated balance sheets. The notes have interest rates ranging from 0% to 16% per annum. At June 30, 2021 and December 31, 2020, there were $1.6 million and $1.5 million, respectively, of notes collateralized by personal guarantees from the sending agents and assets from their businesses in case of a default by the agent.

The maturities of notes receivable at June 30, 2021 are as follows (in thousands):
Unpaid Principal
Balance
Under 1 year$630 
Between 1 and 2 years692 
Between 2 and 3 years229 
Total$1,551 

Allowance for Credit Losses

The changes in the allowance for credit losses related to accounts receivable and notes receivable are as follows (in thousands):

Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Beginning balance$2,058 $1,477 $2,042 $1,236 
Provision504 364 667 1,101 
Charge-offs(623)(589)(888)(1,186)
Recoveries89 98 207 199 
Ending Balance$2,028 $1,350 $2,028 $1,350 
The allowance for credit losses allocated by financial instrument category is as follows (in thousands):

June 30, 2021December 31, 2020
Accounts receivable$1,486 $1,503 
Notes receivable542 539 
Allowance for credit losses$2,028 $2,042