Recoveries refer to the amount of money collected after previously written-off accounts or losses. In the context of notes receivable, recoveries are particularly important as they represent the successful collection of amounts that were once deemed uncollectible, thus improving the financial position of a company. This process can enhance cash flow and positively impact financial statements when a business is able to reclaim funds that were previously thought to be lost.
congrats on reading the definition of Recoveries. now let's actually learn it.