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Refunds Due to Customers
9 Months Ended
Dec. 31, 2020
Refunds Due To Customers Abstract  
Refunds Due to Customers

NOTE 12 – REFUNDS DUE TO CUSTOMERS

 

As of December 31, 2020 and March 31, 2020 the amount of refunds due to customers was approximately $102,000 and $807,000, respectively. Refunds due to customers at December 31, 2020 were primarily due to one customer for overstock returns. Refunds due to customers at March 31, 2020 were primarily due to one major customer which reflects approximately $1,691,000 of chargebacks less approximately $1,181,000 that the customer had deducted on payment remittances to the Company as of March 31, 2020. The remaining $297,000 was primarily due to amounts due to two major customers for overstock returns.