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ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE
 6 Months Ended
Jun. 30, 2023
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 primarily outstanding balances from sending agents for pending wire transfers or money orders from consumers. The outstanding balance of accounts receivable, net of allowance for credit losses, consists of the following (in thousands):

June 30, 2023December 31, 2022
Accounts receivable$126,248 $132,363 
Allowance for credit losses(2,548)(2,555)
Accounts receivable, net$123,700 $129,808 

Agent Advances Receivable
Agent advances receivable, net of allowance for credit losses, from sending agents is as follows (in thousands):

June 30, 2023December 31, 2022
Agent advances receivable, current$1,513 $1,373 
Allowance for credit losses(79)(62)
Net current$1,434 $1,311 
Agent advances receivable, long-term$1,546 $1,423 
Allowance for credit losses(63)(31)
Net long-term$1,483 $1,392 

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 condensed consolidated balance sheets. Some agent advances receivable have interest rates ranging from 0% to 10.5% per annum. The Company had an immaterial amount of accrued interest receivable as of June 30, 2023 and December 31, 2022, which was included in the allowance for credit losses calculation. At June 30, 2023 and December 31, 2022, there were $3.1 million and $2.8 million, respectively, of agent advances receivable collateralized by personal guarantees from sending agents and assets from their businesses in case of a default by the agent.

The maturities of agent advances receivable at June 30, 2023 are as follows (in thousands):
Unpaid Advance Balance
Under 1 year$1,513 
Between 1 and 2 years1,137 
More than 2 years409 
Total$3,059 
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):

Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Beginning balance$2,657 $2,256 $2,648 $2,249 
Provision1,155 1,056 1,940 1,498 
Charge-offs(1,426)(970)(2,434)(1,502)
Recoveries304 100 536 197 
Ending Balance$2,690 $2,442 $2,690 $2,442 

The allowance for credit losses allocated by financial instrument category is as follows (in thousands):

June 30, 2023December 31, 2022
Accounts receivable$2,548 $2,555 
Agent advances receivable142 93 
Allowance for credit losses$2,690 $2,648