Accounts Receivable, Net

12 Months Ended

Jul. 31, 2020

Accounts Receivable, after Allowance for Credit Loss [Abstract]

Accounts Receivable, Net

NOTE 2 — Accounts Receivable, Net

Accounts receivable, net consisted of:

	July 31,
(In thousands)	2020		2019
Advance charges receivable	$	260,196	$	280,835
Trade accounts receivable	94,281		89,274
Other receivables	2,120		2,098
	356,597		372,207
Less: Allowance for doubtful accounts	(6,390)		(4,942)
Accounts receivable, net	$	350,207	$	367,265

Advance charges receivable represents amounts paid to third parties on behalf of insurance companies for which the Company will be reimbursed when the vehicle is sold. As advance charges are recovered within one year, the Company has not adjusted the amount of consideration received from the customer for a significant financing component. Trade accounts receivable includes fees and gross auction proceeds to be collected from insurance companies and buyers.

The movements in the allowance for doubtful accounts were as follows:

	July 31,
(In thousands)	2020		2019		2018
Balance at beginning of year	$	4,942	$	5,444	$	4,311
Charged to costs and expenses	5,591		2,409		4,255
Write-offs to bad debt	(4,143)		(2,911)		(3,122)
Balance at end of year	$	6,390	$	4,942	$	5,444