Accounts and Contracts Receivables

12 Months Ended

Jan. 31, 2018

Accounts and contracts receivables consisted of the following (in thousands):



	As of January 31,
	2018	2017
Accounts receivable	$16,392	$21,762
Contracts receivable	4,921	2,752
	21,313	24,514
Less long-term portion	(6,934)	(4,968)
Current accounts and contracts receivable	14,379	19,546
Less current portion of allowance for doubtful accounts	(3,885)	(3,716)
Current portion of accounts and contracts receivable, net of allowance for doubtful accounts	$10,494	$15,830

Contracts receivable consisted of $4.9 million and $2.8 million, due from five customers as of January 31, 2018 and 2017, respectively. The balance of contracts receivable at January 31, 2018 and 2017 consisted of contracts bearing interest at an average rate of approximately 2.8% and 2.2% respectively and with remaining repayment terms from one to 40 months. These contracts are collateralized by the equipment sold. As of January 31, 2017, the Company has entered into structured payment arrangements with five customers, which extend the payment of their accounts and contracts receivable balances resulting in long-term accounts receivable with two customers totaling $3.7 million and long-term contracts receivable with two customers totaling $2.1 million. Payments terms for long-term receivables are structured to be completed by the end of fiscal 2020.