Accounts Receivable, Net

3 Months Ended

Oct. 31, 2022

Accounts Receivable [Abstract]

Accounts Receivable, Net

Accounts Receivable, Net

Accounts receivable, net consisted of:

(In thousands)	October 31, 2022		July 31, 2022
Advance charges receivable	$	476,672	$	440,650
Trade accounts receivable	142,010		137,243
Other receivables	18,046		7,257
	636,728		585,150
Less: Allowance for credit loss	(7,764)		(6,577)
Accounts receivable, net	$	628,964	$	578,573

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.