Cash & securitization of receivable

Cfai rdg 27 EOC #14 why add the 2mm securitized receivable to ending receivable? I thought it would be counted as an addition to cash, but thAt’s not so.

You basically pretend the securitization didn’t happen.

Ok. And the 2mm was never included in the 16 EOY receivable? And that’s why we add it?