Annual report pursuant to Section 13 and 15(d)

Receivables (Tables)

v3.19.2
Receivables (Tables)
 12 Months Ended
Jun. 30, 2019
Receivables [Abstract]  
Schedule of receivables and secured loans
Receivables consist of the following as of June 30, 2019 and June 30, 2018:
in thousands
 
 
 
 
 
 
 
June 30, 2019
 
June 30, 2018
 
 
 
 
 
 
 
Customer trade receivables
 
$
13,050

 
$
22,813

 
Wholesale trade advances
 
9,704

 
10,722

 
Due from brokers
 
4,141

 
2,351

 
Subtotal
 
26,895

 
35,886

 
Less: allowance for doubtful accounts
 
—

 
(30
)
 
Receivables, net
 
$
26,895

 
$
35,856

 
 
 
 
 
 
 
Schedule of allowance for doubtful accounts
An allowance for doubtful accounts is a reduction of the total amount of receivables appearing on the Company’s consolidated balance sheets. The allowance for doubtful accounts represents our estimate of the amount of accounts receivable that may not be paid by customers. A summary of the activity in the allowance for doubtful accounts is as follows:
 
in thousands
 
 
 
 
 
 
 
 
 
 
Period ended:
 
Beginning Balance
 
Provision
 
Charge-off
 
Ending Balance
 
Year ended June 30, 2019
 
$
30

 
$
(30
)
(1) 
$
—

 
$
—

 
Year Ended June 30, 2018
 
$
30

 
$
—

 
$
—

 
$
30

 
_________________________________
1)
Represents $30 thousand reversal of a provision for doubtful accounts.