Receivables, Net

12 Months Ended

Jul. 02, 2023

6. Receivables, Net

Receivables, net consists of the following:


	July 2, 2023			July 3, 2022
Customer receivables	$	79,174		$	99,963
Allowance for uncollectible accounts		(1,362	)		(1,498	)
Reserves for quality claims		(682	)		(860	)
Net customer receivables		77,130			97,605
Banker's acceptance notes		5,870			7,849
Other receivables		725			1,111
Total receivables, net	$	83,725		$	106,565

Banker’s acceptance notes (“BANs”), denominated in RMB, relate to the settlement of certain customer receivables generated from trade activity in the Asia Segment. The BANs are redeemable upon maturity from the drawing financial institutions, or earlier at a discount.

The changes in UNIFI’s allowance for uncollectible accounts and reserves for quality claims were as follows:


	Allowance for Uncollectible Accounts			Reserves for Quality Claims
Balance at June 28, 2020	$	(3,796	)	$	(928	)
Credited (charged) to costs and expenses		1,316			(1,085	)
Translation activity		(89	)		(36	)
Deductions		44			1,346
Balance at June 27, 2021	$	(2,525	)	$	(703	)
Credited (charged) to costs and expenses		445			(1,065	)
Translation activity		40			12
Deductions		542			896
Balance at July 3, 2022	$	(1,498	)	$	(860	)
Credited (charged) to costs and expenses		89			(1,397	)
Translation activity		(86	)		7
Deductions		133			1,568
Balance at July 2, 2023	$	(1,362	)	$	(682	)

Amounts credited (charged) to costs and expenses for the allowance for uncollectible accounts are reflected in the benefit for bad debts and deductions represent amounts written off which were deemed to not be collectible, net of any recoveries. Amounts charged to costs and expenses for the reserves for quality claims are primarily reflected as a reduction of net sales and deductions represent adjustments to either increase or decrease claims based on negotiated amounts or actual versus estimated claim differences.