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ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE
 12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE ACCOUNTS RECEIVABLE AND AGENT ADVANCES 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 of accounts receivable, net of allowance for credit losses, consists of the following (in thousands):
December 31,
20212020
Accounts receivable$69,498 $56,520 
Allowance for credit losses(2,181)(1,503)
Accounts receivable, net$67,317 $55,017 

Agent Advances Receivable

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

December 31,
20212020
Agent advances receivable, current$791 $710 
Allowance for credit losses(55)(244)
Net current$735 $466 
Agent advances receivable, long-term$656 $816 
Allowance for credit losses(13)(295)
Net long-term$644 $521 

The net current portion of agent advances receivable is included in prepaid expenses and other current assets (see Note 5), and the net long-term portion is included in other assets in the consolidated balance sheets. The agent advances receivable have interest rates ranging from 0% to 15.5% per annum. At December 31, 2021 and 2020, there were $1.4 million and $1.5 million, respectively, of agent advances receivable collateralized by personal guarantees from the sending agents and assets from their businesses in case of a default by the agent.

The maturities of agent advances receivable at December 31, 2021 are as follows (in thousands):
Outstanding
Balance
Under 1 year$791 
Between 1 and 2 years656 
Total$1,447 

Allowance for Credit Losses

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

Year Ended December 31,
202120202019
Beginning balance$2,042 $1,236 $1,290 
Provision1,537 1,801 1,626 
Charge-offs(1,863)(1,491)(1,972)
Recoveries533 496 292 
Ending Balance$2,249 $2,042 $1,236 

The allowance for credit losses allocated by financial instrument category is as follows (in thousands):
December 31,
202120202019
Accounts receivable$2,181 $1,503 $759 
Agent advances receivable68 539 477 
Allowance for credit losses$2,249 $2,042 $1,236