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ACCOUNTS RECEIVABLE (Notes)
 12 Months Ended
Jun. 30, 2014
Receivables [Abstract]  
Accounts Receivable
ACCOUNTS RECEIVABLE
 
Accounts receivable includes unsecured trade receivables due from customers.  In addition, at June 30, 2013, accounts receivable included $8,500,000 of proceeds from the settlement of the lawsuit against a third party (see Notes 2 and 21).

The Company performs credit evaluations of its customers and does not require collateral to establish an account receivable.  Accounts receivable from our two largest customers represented 11.0% and 20.5% of trade accounts receivable as of June 30, 2014 and 2013, respectively.

The Company evaluates collectibility of accounts receivable based on a number of factors.  Accounts receivable are considered to be past due if unpaid one day after their due date.  An allowance for doubtful accounts is recorded for past due receivable balances based on a review of the past due item and general economic conditions.  The Company writes off accounts receivable when they become uncollectible.  The Company recovered $112,417 of previously written-off accounts receivable during fiscal 2014 and there were no recoveries of previously written off accounts receivable during fiscal 2013.  Changes in the allowance for doubtful accounts were as follows:
Fiscal Year Ended
June 30,
 
Balance,
beginning
of year
 
Provision
charged to
expense
 
Amounts
written-off
 
Balance,
end of year
2014
 
$
43,405

 
(182,020
)
 
159,116

 
$
20,501

2013
 
$
31,559

 
13,561

 
(1,715
)
 
$
43,405



The vast majority of international customers, outside of Canada, are sold to on a cash against documents or cash in advance basis. Approximately 14% and 16% of the Company's trade accounts receivable at June 30, 2014 and 2013, were foreign receivables denominated in U.S. dollars.