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Accounts Receivable

3 Months Ended

Oct. 31, 2019

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

NOTE 2 — Accounts Receivable, Net

Accounts receivable, net consisted of:



(In thousands)	October 31, 2019			July 31, 2019
Advance charges receivable	$	307,738		$	280,835
Trade accounts receivable	87,467			89,274
Other receivables	4,488			2,098
	399,693			372,207
Less: Allowance for doubtful accounts	(5,384		)	(4,942		)
Accounts receivable, net	$	394,309		$	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.