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Accounts and Financing Receivables
 12 Months Ended
Sep. 30, 2017
Receivables [Abstract]  
Accounts and Financing Receivables

7. Accounts and Financing Receivables

Trade accounts receivable consisted of the following (in thousands):

 

 

 

AS OF SEPTEMBER 30,

 

 

 

2017

 

 

2016

 

 

2015

 

Trade accounts receivable

 

$

10,830

 

 

$

17,841

 

 

$

15,209

 

Allowance for doubtful accounts

 

 

(1,395

)

 

 

(2,449

)

 

 

(2,516

)

 

 

$

9,435

 

 

$

15,392

 

 

$

12,693

 

 

The allowance for doubtful accounts represents the Company’s best estimate of probable credit losses.  The Company determines the allowance based upon historical experience and a review of its balances.  Accounts receivable balances are charged off against the allowance whenever it is probable that the receivable will not be recoverable.  The Company does not have any off-balance-sheet credit exposure related to its customers.

Financing receivables are reflected in the following table (in thousands):

 

 

 

SEPTEMBER 30,

2017

 

 

SEPTEMBER 30,

2016

 

 

SEPTEMBER 30,

2015

 

Promissory notes

 

$

4,306

 

 

$

3,850

 

 

$

3,520

 

Sales-type lease

 

 

8,581

 

 

 

—

 

 

 

—

 

   Total financing receivables

 

 

12,887

 

 

 

3,850

 

 

 

3,520

 

Unearned income:

 

 

 

 

 

 

 

 

 

 

 

 

   Notes

 

 

(90

)

 

 

—

 

 

 

—

 

   Sales-type lease

 

 

(527

)

 

 

—

 

 

 

—

 

      Total unearned income

 

 

(617

)

 

 

—

 

 

 

—

 

Total financing receivables, net of unearned income

 

 

12,270

 

 

 

3,850

 

 

 

3,520

 

Allowance for doubtful notes

 

 

(1,020

)

 

 

(500

)

 

 

-

 

Less current portion

 

 

3,055

 

 

 

1,533

 

 

 

2,004

 

Non-current financing receivables

 

$

8,195

 

 

$

1,817

 

 

$

1,516

 

 

Promissory notes receivable are generally collateralized by the products sold, and bear interest at rates ranging up to 5% per year.  The promissory notes receivable      mature at various times through September 2020.  The Company has, on occasion, extended or renewed notes receivable as they mature, but there is no obligation to do so.

 

The sales-type lease was derived from the sale of rental equipment in the fourth quarter of fiscal year 2017.  The sales-type lease has a term of three years.  Future minimum lease payments required under the lease were $8.6 million at September 30, 2017.  The Company expects to receive $2.9 million of future minimum lease payments in each of fiscal years 2018, 2019 and 2020.  The equipment will have no residual value to the Company at the end of the lease term.