3. Receivables

Short-term receivables of our continuing operations consist of the following:


			(in 000s)
As of	January 31, 2012	January 31, 2011	April 30, 2011
Emerald Advance lines of credit	$ 443,717	$ 674,317	$ 31,645
Receivables for tax preparation and related fees	333,636	280,364	38,930
Royalties from franchisees	88,597	84,049	11,645
Loans to franchisees	81,415	85,269	62,181
Receivable from M&P	32,342	—	—
RAC fees receivable	28,942	51,704	—
Tax client receivables related to RALs	1,727	4,874	2,412
Other	89,665	95,732	131,302

	1,100,041	1,276,309	278,115
Allowance for doubtful accounts	(64,139 )	(102,837 )	(47,943 )

	$ 1,035,902	$ 1,173,472	$ 230,172

As discussed in note 1, we have a short-term receivable for $32.3 million and a long-term note receivable in the amount of $54.0 million due from M&P related to the sale of RSM. The short-term receivable note is based on the final post-closing adjustments to the purchase price we expect to receive. The long-term note is unsecured and bears interest at a rate of 8.0%, with all principal and accrued interest due in May 2017. As of January 31, 2012, there is no allowance recorded related to the short-term receivable or the long-term note, however we will monitor publicly available information relevant to the financial condition of M&P to assess future collectability. The long-term note is included in other assets in our condensed consolidated balance sheet.

The short-term portion of Emerald Advance lines of credit (EAs), tax client receivables related to refund anticipation loans (RALs) and loans made to franchisees is included in receivables, while the long-term portion is included in other assets in the condensed consolidated financial statements. These amounts are as follows:


			(in 000s)
	Emerald Advance Lines of Credit	Tax Client Receivables - RALs	Loans to Franchisees
As of January 31, 2012:
Short-term	$ 443,717	$ 1,727	$ 81,415
Long-term	15,001	5,120	134,136
	$ 458,718	$ 6,847	$ 215,551
As of January 31, 2011:
Short-term	$ 674,317	$ 4,874	$ 85,269
Long-term	13,608	5,856	131,340
	$ 687,925	$ 10,730	$ 216,609
As of April 30, 2011:
Short-term	$ 31,645	$ 2,412	$ 62,181
Long-term	21,619	5,855	110,420
	$ 53,264	$ 8,267	$ 172,601

We review the credit quality of our EA receivables and tax client receivables related to RALs based on pools, which are segregated by the year of origination, with older years being deemed more unlikely to be repaid. These amounts as of January 31, 2012, by year of origination, are as follows:


		(in 000s)
	Emerald Advance	Tax Client
	Lines of Credit	Receivables - RALs
Credit Quality Indicator – Year of origination:
2012	$ 410,648	$ —
2011	21,913	—
2010	4,848	—
2009	4,866	2,034
2008 and prior	2,045	4,813
Revolving loans	14,398	—

	$ 458,718	$ 6,847

As of January 31, 2012 and April 30, 2011, $41.4 million and $46.8 million, respectively, of EAs were on non-accrual status and classified as impaired, or more than 60 days past due. All tax client receivables related to RALs are considered impaired.

Loans made to franchisees totaled $215.6 million at January 31, 2012, and consisted of $150.4 million in term loans made to finance the purchase of franchises and $65.2 million in revolving lines of credit made to existing franchisees primarily for the purpose of funding their off-season needs.

Activity in the allowance for doubtful accounts for the nine months ended January 31, 2012 and 2011 is as follows:


					(in 000s)
	Emerald Advance	Tax Client	Loans	All
	Lines of Credit	Receivables - RALs	to Franchisees	Other	Total
Balance as of April 30, 2011	$ 4,400	$ —	$ —	$ 43,543	$ 47,943
Provision	33,570	—	—	17,062	50,632
Charge-offs	—	—	—	(34,436 )	(34,436 )

Balance as of January 31, 2012	$ 37,970	$ —	$ —	$ 26,169	$ 64,139

Balance as of April 30, 2010	$ 35,239	$ 12,191	$ 4	$ 43,723	$ 91,157
Provision	71,325	2	—	22,961	94,288
Charge-offs	(32,919 )	(12,193 )	(4 )	(37,492 )	(82,608 )

Balance as of January 31, 2011	$ 73,645	$ —	$ —	$ 29,192	$ 102,837

There were no changes to our methodology related to the calculation of our allowance for doubtful accounts during the nine months ended January 31, 2012.