|
(3) ACCOUNTS RECEIVABLE, NET
Accounts receivable, net is summarized as follows:
|
|
|
March 31,
|
|
|
|
|
2011
|
|
2012
|
|
|
|
|
RMB
|
|
RMB
|
|
|
Accounts receivable
|
|
74,989,794
|
|
111,944,576
|
|
|
Less: Allowance for doubtful accounts
|
|
(27,938,198
|
)
|
(30,100,005
|
)
|
|
Accounts receivable, net
|
|
47,051,596
|
|
81,844,571
|
|
Management performs ongoing credit evaluations of its customers’ financial condition and generally does not require collateral on accounts receivable.
The activity in the allowance for doubtful accounts for accounts receivable for the years ended March 31, 2010, 2011 and 2012 is as follows:
|
|
|
Year Ended March 31,
|
|
|
|
|
2010
|
|
2011
|
|
2012
|
|
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
|
Beginning allowance for doubtful accounts
|
|
3,198,960
|
|
29,934,512
|
|
27,938,198
|
|
|
Additions charged to bad debt expense
|
|
27,052,862
|
|
2,235,627
|
|
2,350,990
|
|
|
Write-off of accounts receivable
|
|
(317,310
|
)
|
(4,231,941
|
)
|
(189,183
|
)
|
|
Ending allowance for doubtful accounts
|
|
29,934,512
|
|
27,938,198
|
|
30,100,005
|
|
|