Note 4 - Trade Account Receivables and Allowance for Doubtful Accounts

12 Months Ended

Jun. 30, 2022

Notes to Financial Statements

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

4. TRADE ACCOUNT RECEIVABLES AND ALLOWANCE FOR DOUBTFUL ACCOUNTS

Account receivables are customer obligations due under normal trade terms. The Company performs continuing credit evaluations of its customers’ financial conditions, and although management generally does not require collateral, letters of credit may be required from its customers in certain circumstances.

Senior management reviews trade account receivables on a periodic basis to determine if any receivables will potentially be uncollectible. Management includes any trade account receivables balances that are determined to be uncollectible in the allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Based on the information available to us, management believed the allowance for doubtful accounts as of June 30, 2022 and June 30, 2021 was adequate.  

The following table represents the changes in the allowance for doubtful accounts:

	For the Year Ended June 30,
	2022			2021
Beginning	$	311		$	314
Additions charged to expense		48			5
Recovered		(106	)		(14	)
Write-off		-			(16	)
Currency translation effect		(10	)		22
Ending	$	243		$	311