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Note H - Accounts and Other Receivables, Net

9 Months Ended

Dec. 27, 2020

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):

	December 27,		March 29,
	2020		2020

Branded product sales	$	7,479	$	6,789
Franchise and license royalties		4,727		4,299
Other		428		257
		12,634		11,345

Less: allowance for doubtful accounts		296		237
Accounts and other receivables, net	$	12,338	$	11,108

Accounts receivable are due within 30 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 27, 2020 and the fiscal year ended March 29, 2020 are as follows (in thousands):

	December 27, 2020			March 29, 2020

Beginning balance	$	237		$	585
Bad debt expense		70			71
Write-offs and other		(11	)		(419	)
Ending balance	$	296		$	237