Notes Three: RECEIVABLES

Receivables were as follows at November 30:

The Company's provision for bad debts was $1,991,000 in 2004, $3,071,000 in 2003, and $1,300,000 in 2002. Trade receivables included unbilled receivables related to the percentage-of-completion method of revenue recognition of $29,438,000 and $25,371,000 at November 30, 2004 and 2003, respectively.