Notes Three: RECEIVABLES

Receivables were as follows at November 30:

The Company's provision for bad debts was $3,071,000 in 2003, $1,300,000 in 2002, and $1,738,000 in 2001. Trade receivables included unbilled receivables related to the percentage-of-completion method of revenue recognition of $25,371,000 and $11,928,000 at November 30, 2003 and 2002, respectively.