Note H - Accounts and Other Receivables, Net

9 Months Ended

Dec. 29, 2019

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

NOTE H – ACCOUNTS AND OTHER RECEIVABLES, NET

Accounts and other receivables, net, consist of the following (in thousands):

	Dec ember 2 9 ,		March 31,
	201 9		2019

Branded product sales	$	8,094	$	7,432
Franchise and license royalties		2,052		2,661
Other		788		665
		10,934		10,758

Less: allowance for doubtful accounts		498		585
Accounts and other receivables, net	$	10,436	$	10,173

Accounts receivable are due within

days and are stated at amounts due from franchisees, retail licensees and Branded Product Program customers, net of an allowance for doubtful accounts. Accounts that are outstanding longer than the contractual payment terms are generally considered past due. The Company does

not

recognize franchise and license royalties that are

not

deemed to be realizable.

The Company individually reviews each past due account and determines its allowance for doubtful accounts by considering a number of factors, including the length of time accounts receivable are past due, the Company’s previous loss history, the customer’s current and expected future ability to pay its obligation to the Company, the condition of the general economy and the industry as a whole. Based on management’s assessment, the Company provides for estimated uncollectible amounts through a charge to earnings. After the Company has used reasonable collection efforts, it writes off accounts receivable through a charge to the allowance for doubtful accounts.

Changes in the Company’s allowance for doubtful accounts for the

thirty-nine

week period ended

December 29, 2019

and the fiscal year ended

March 31, 2019

are as follows (in thousands):

	December 29 , 20 19			March 31, 2019

Beginning balance	$	585		$	468
Reclassification to conform with Topic 606		-			77
Bad debt expense		7			100
Accounts written off		(94	)		(60	)
Ending balance	$	498		$	585