5. ACCOUNTS RECEIVABLE, NET
| |
|
March 31,
|
|
|
March 31,
|
|
| |
|
2012
|
|
|
2011
|
|
| |
|
|
|
|
|
|
|
Accounts receivable, trade
|
|
$ |
5,771,924 |
|
|
$ |
6,250,353 |
|
|
Less: allowances for doubtful accounts
|
|
|
(17,365 |
) |
|
|
(13,710 |
) |
|
Accounts receivable, net
|
|
$ |
5,754,559 |
|
|
$ |
6,236,643 |
|
The majority of the Company’s sales are on open credit terms and in accordance with terms specified in the contracts governing the relevant transactions. The Company evaluates the need of an allowance for doubtful accounts based on specifically identified amounts that management believes to be uncollectible. If actual collections experience changes, revisions to the allowance may be required.
For the year ended March 31, 2012, the Company provided an allowance for doubtful accounts of $3,612 and wrote-off uncollectible accounts of $0.
For the year ended March 31, 2011, the Company provided an
allowance for doubtful accounts of $13,733 and wrote-off uncollectible accounts of $29,712.
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