"The company is vigorously pursuing its remedies under the contracts, including collection of the outstanding receivable amounts".
In his letter, Mr. Corwick said Jersey City had accumulated more than $20 million in receivables -- amounts the city had anticipated getting but not yet received -- that it might never collect.
Does it change the amount of cash, the amount of receivables, the inventory, amount of properties, or an expense?
The price consists of $228 million cash and $17 million in accounts receivable, the amount owed to a business for products that have been purchased.
Credit card receivables, or the amount people owed on their credit cards, swelled to $5.2 billion at the end of the quarter, from $2.9 billion a year ago, as the company expanded its Target-branded Visa card.
The former include cash, amounts receivable from customers, inventories, and other assets that are expected to be consumed or can be readily converted into cash during the next operating cycle (production, sale, and collection).
Because of an existing agreement, investors had to be paid immediately if the expected credit card receivables fell below certain amounts.
They also wanted him to commit to sell a minimum amount of receivables each month.
In March, receivables from GM and Chrysler will amount to a mere $2.4 billion, according to the group's president, Neil DeKoker.
That's against $454 million in total receivables.
In its confidential submission to Mr. Davis and his aides, Duke said it would "forgive an appropriate amount of certain receivables, or make an appropriate payment based upon a methodology that fairly represents its share of alleged overcharges".
