Accounts Receivable

9 Months Ended

Dec. 31, 2011

5. Accounts Receivable

Accounts receivable consisted of the following (in thousands):


		December 31,			March 31,
		2011			2011
Accounts receivable (billed)	$	11,708		$	10,938
Accounts receivable (unbilled)		3,308			5,004
Less: Allowance for doubtful accounts		(252	)		(683	)
Accounts receivable, net	$	14,764		$	15,259

The Company records bank acceptance notes receivable arranged with third-party financial institutions by certain customers to settle their transactions within prepaid expenses and other current assets. These notes are typically non-interest bearing and generally have maturities of less than six months. The carrying amount of notes receivable approximate their fair values. The Company had notes receivable outstanding of $3.2 million and $2.0 million as of December 31, 2011 and March 31, 2011, respectively.