| | | | | | | | | | | | | | | | | | | | | |
<?xml version="1.0" encoding="windows-1252"?> |
<InstanceReport xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"> |
| <Version> 2.4.0.8 </Version> |
| <ReportLongName> 116 - Disclosure - NOTES RECEIVABLE </ReportLongName> |
| <DisplayLabelColumn> true </DisplayLabelColumn> |
| <ShowElementNames> false </ShowElementNames> |
| <RoundingOption/> |
| <HasEmbeddedReports> false </HasEmbeddedReports> |
| <Columns> |
| | <Column FlagID="0"> |
| | | <Id> 1 </Id> |
| | | <IsAbstractGroupTitle> false </IsAbstractGroupTitle> |
| | | <LabelSeparator> </LabelSeparator> |
| | | <CurrencyCode/> |
| | | <FootnoteIndexer/> |
| | | <hasSegments> false </hasSegments> |
| | | <hasScenarios> false </hasScenarios> |
| | | <MCU> |
| <KeyName/> |
| <CurrencySymbol/> |
| <contextRef> |
| <ContextID> cx_01_January_2013_TO_30_June_2013 </ContextID> |
| <EntitySchema> http://www.sec.gov/CIK </EntitySchema> |
| <EntityValue> 0001316517 </EntityValue> |
| <PeriodDisplayName/> |
| <PeriodType> duration </PeriodType> |
| <PeriodStartDate> 2013-01-01T00:00:00 </PeriodStartDate> |
| <PeriodEndDate> 2013-06-30T00:00:00 </PeriodEndDate> |
| <Segments/> |
| <Scenarios/> |
| </contextRef> |
| <UPS/> |
| <CurrencyCode/> |
| <OriginalCurrencyCode/> |
| </MCU> |
| | | <CurrencySymbol/> |
| | | <Labels> |
| <Label Key="CalendarSupplement" Id="0" Label="6 Months Ended"/> |
| <Label Key="Calendar" Id="1" Label="Jun. 30, 2013"/> |
| </Labels> |
| | | </Column> |
| | </Columns> |
| <Rows> |
| | <Row FlagID="0"> |
| | | <Id> 1 </Id> |
| | | <IsAbstractGroupTitle> false </IsAbstractGroupTitle> |
| | | <LabelSeparator> </LabelSeparator> |
| | | <Level> 4 </Level> |
| | | <ElementName> us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock </ElementName> |
| | | <ElementPrefix> us-gaap_ </ElementPrefix> |
| | | <IsBaseElement> true </IsBaseElement> |
| | | <BalanceType> na </BalanceType> |
| | | <PeriodType> duration </PeriodType> |
| | | <IsReportTitle> false </IsReportTitle> |
| | | <IsSegmentTitle> false </IsSegmentTitle> |
| | | <IsCalendarTitle> false </IsCalendarTitle> |
| | | <IsEquityPrevioslyReportedAsRow> false </IsEquityPrevioslyReportedAsRow> |
| | | <IsEquityAdjustmentRow> false </IsEquityAdjustmentRow> |
| | | <IsBeginningBalance> false </IsBeginningBalance> |
| | | <IsEndingBalance> false </IsEndingBalance> |
| | | <IsReverseSign> false </IsReverseSign> |
| | | <FootnoteIndexer/> |
| | | <Cells> |
| <Cell FlagID="0" ContextID="cx_01_January_2013_TO_30_June_2013" UnitID=""> |
| <Id> 1 </Id> |
| <IsNumeric> false </IsNumeric> |
| <IsRatio> false </IsRatio> |
| <DisplayZeroAsNone> false </DisplayZeroAsNone> |
| <NumericAmount> 0 </NumericAmount> |
| <RoundedNumericAmount> 0 </RoundedNumericAmount> |
| <NonNumbericText> <p align="justify" style="font-family: times new roman,times,serif; font-size: 10pt;"> <b>NOTE 11 - NOTES RECEIVABLE</b> </p> <p align="justify" style="font-family: times new roman,times,serif; font-size: 10pt;">Notes receivable are summarized as follows:</p> <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times new roman,times,serif;" width="100%"> <tr valign="top"> <td align="left"> </td> <td align="left" width="1%"> </td> <td align="center" nowrap="nowrap" width="12%"> <b>June 30, 2013</b> </td> <td align="center" nowrap="nowrap" width="2%"> </td> <td align="center" nowrap="nowrap" width="1%"> </td> <td align="center" nowrap="nowrap" width="12%"> <b>December 31,</b> </td> <td align="left" width="2%"> </td> </tr> <tr valign="top"> <td align="left"> </td> <td align="left" width="1%"> </td> <td align="center" nowrap="nowrap" width="12%"> <b>(Unaudited)</b> </td> <td align="center" nowrap="nowrap" width="2%"> </td> <td align="center" nowrap="nowrap" width="1%"> </td> <td align="center" nowrap="nowrap" width="12%"> <b>2012</b> </td> <td align="left" width="2%"> </td> </tr> <tr valign="top"> <td align="left" bgcolor="#e6efff">Notes receivable from unrelated companies:</td> <td align="left" bgcolor="#e6efff" width="1%"> </td> <td align="left" bgcolor="#e6efff" width="12%"> </td> <td align="left" bgcolor="#e6efff" width="2%"> </td> <td align="left" bgcolor="#e6efff" width="1%"> </td> <td align="left" bgcolor="#e6efff" width="12%"> </td> <td align="left" bgcolor="#e6efff" width="2%"> </td> </tr> <tr valign="top"> <td align="left"> Due September 30, 2013, interest at 9.6% per annum <sup> 1 </sup> </td> <td align="left" valign="bottom" width="1%">$</td> <td align="right" valign="bottom" width="12%"> 11,743,310 </td> <td align="left" valign="bottom" width="2%"> </td> <td align="left" valign="bottom" width="1%">$</td> <td align="right" valign="bottom" width="12%"> 9,562,429 </td> <td align="left" valign="bottom" width="2%"> </td> </tr> <tr valign="top"> <td align="left" bgcolor="#e6efff"> </td> <td align="left" bgcolor="#e6efff" valign="bottom" width="1%"> </td> <td align="right" bgcolor="#e6efff" valign="bottom" width="12%"> 11,743,310 </td> <td align="left" bgcolor="#e6efff" valign="bottom" width="2%"> </td> <td align="left" bgcolor="#e6efff" valign="bottom" width="1%"> </td> <td align="right" bgcolor="#e6efff" valign="bottom" width="12%"> 9,562,429 </td> <td align="left" bgcolor="#e6efff" valign="bottom" width="2%"> </td> </tr> <tr> <td> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="12%"> </td> <td valign="bottom" width="2%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="12%"> </td> <td valign="bottom" width="2%"> </td> </tr> <tr valign="top"> <td align="left" bgcolor="#e6efff">Bank acceptance notes:</td> <td align="left" bgcolor="#e6efff" valign="bottom" width="1%"> </td> <td align="left" bgcolor="#e6efff" valign="bottom" width="12%"> </td> <td align="left" bgcolor="#e6efff" valign="bottom" width="2%"> </td> <td align="left" bgcolor="#e6efff" valign="bottom" width="1%"> </td> <td align="left" bgcolor="#e6efff" valign="bottom" width="12%"> </td> <td align="left" bgcolor="#e6efff" valign="bottom" width="2%"> </td> </tr> <tr valign="top"> <td align="left">Bank acceptance notes</td> <td align="left" valign="bottom" width="1%"> </td> <td align="right" valign="bottom" width="12%"> - </td> <td align="left" valign="bottom" width="2%"> </td> <td align="left" valign="bottom" width="1%"> </td> <td align="right" valign="bottom" width="12%"> - </td> <td align="left" valign="bottom" width="2%"> </td> </tr> <tr valign="top"> <td align="left" bgcolor="#e6efff">Notes receivable</td> <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td> <td align="right" bgcolor="#e6efff" valign="bottom" width="12%"> 11,743,310 </td> <td align="left" bgcolor="#e6efff" valign="bottom" width="2%"> </td> <td align="left" bgcolor="#e6efff" valign="bottom" width="1%">$</td> <td align="right" bgcolor="#e6efff" valign="bottom" width="12%"> 9,562,429 </td> <td align="left" bgcolor="#e6efff" valign="bottom" width="2%"> </td> </tr> </table> <p align="justify" style="font-family: times new roman,times,serif; font-size: 10pt;">Details of Notes receivable from unrelated parties as of December 31, 2012</p> <div style="font-family: times new roman,times,serif; font-size: 10pt;"> <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times new roman,times,serif;" width="100%"> <tr valign="top"> <td align="left" nowrap="nowrap"> </td> <td align="left" nowrap="nowrap" width="18%"> </td> <td align="left" nowrap="nowrap" width="18%"> </td> <td align="left" nowrap="nowrap" width="18%"> </td> <td align="left" nowrap="nowrap" width="18%"> </td> <td align="left" nowrap="nowrap" width="18%">Manner of</td> </tr> <tr valign="top"> <td align="left" nowrap="nowrap" style="BORDER-BOTTOM: #000000 1px solid">Index</td> <td align="left" nowrap="nowrap" style="BORDER-BOTTOM: #000000 1px solid" width="18%">Amount ($)</td> <td align="left" nowrap="nowrap" style="BORDER-BOTTOM: #000000 1px solid" width="18%">Counter party</td> <td align="left" nowrap="nowrap" style="BORDER-BOTTOM: #000000 1px solid" width="18%">Relationship</td> <td align="left" nowrap="nowrap" style="BORDER-BOTTOM: #000000 1px solid" width="18%">Purpose of Loan</td> <td align="left" nowrap="nowrap" style="BORDER-BOTTOM: #000000 1px solid" width="18%">settlement</td> </tr> <tr valign="top"> <td align="left" bgcolor="#e6efff"> 1 </td> <td align="left" bgcolor="#e6efff" width="18%"> 9,562,429 </td> <td align="left" bgcolor="#e6efff" width="18%">Yongkang HuiFeng Guarantee Co., Ltd</td> <td align="left" bgcolor="#e6efff" width="18%">No relationship beyond loan</td> <td align="left" bgcolor="#e6efff" width="18%">Receive interest income</td> <td align="left" bgcolor="#e6efff" width="18%">Not Due</td> </tr> </table> </div> <p align="justify" style="font-family: times new roman,times,serif; font-size: 10pt;">Details of Notes receivable from unrelated parties as of June 30, 2013</p> <div style="font-family: times new roman,times,serif; font-size: 10pt;"> <table border="0" cellpadding="0" cellspacing="0" style="border-color: black; font-size: 10pt; border-collapse: collapse; font-family: times new roman,times,serif;" width="100%"> <tr valign="top"> <td align="left" nowrap="nowrap"> </td> <td align="left" nowrap="nowrap" width="18%"> </td> <td align="left" nowrap="nowrap" width="18%"> </td> <td align="left" nowrap="nowrap" width="18%"> </td> <td align="left" nowrap="nowrap" width="18%"> </td> <td align="left" nowrap="nowrap" width="18%">Manner of</td> </tr> <tr valign="top"> <td align="left" nowrap="nowrap" style="BORDER-BOTTOM: #000000 1px solid">Index</td> <td align="left" nowrap="nowrap" style="BORDER-BOTTOM: #000000 1px solid" width="18%">Amount ($)</td> <td align="left" nowrap="nowrap" style="BORDER-BOTTOM: #000000 1px solid" width="18%">Counter party</td> <td align="left" nowrap="nowrap" style="BORDER-BOTTOM: #000000 1px solid" width="18%">Relationship</td> <td align="left" nowrap="nowrap" style="BORDER-BOTTOM: #000000 1px solid" width="18%">Purpose of Loan</td> <td align="left" nowrap="nowrap" style="BORDER-BOTTOM: #000000 1px solid" width="18%">settlement</td> </tr> <tr valign="top"> <td align="left" bgcolor="#e6efff"> 1 </td> <td align="left" bgcolor="#e6efff" width="18%"> 11,743,310 </td> <td align="left" bgcolor="#e6efff" width="18%">Yongkang HuiFeng Guarantee Co., Ltd</td> <td align="left" bgcolor="#e6efff" width="18%">No relationship beyond loan</td> <td align="left" bgcolor="#e6efff" width="18%">Receive interest income</td> <td align="left" bgcolor="#e6efff" width="18%">Not due</td> </tr> </table> </div> </NonNumbericText> |
| <FootnoteIndexer/> |
| <CurrencyCode/> |
| <CurrencySymbol/> |
| <IsIndependantCurrency> false </IsIndependantCurrency> |
| <ShowCurrencySymbol> false </ShowCurrencySymbol> |
| <DisplayDateInUSFormat> false </DisplayDateInUSFormat> |
| </Cell> |
| </Cells> |
| | | <ElementDataType> nonnum:textBlockItemType </ElementDataType> |
| | | <SimpleDataType> na </SimpleDataType> |
| | | <ElementDefenition> The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. </ElementDefenition> |
| | | <ElementReferences> Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3, 4 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=28368275&loc=d3e5074-111524 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=28368275&loc=d3e5066-111524 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 7 -Article 9 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph k -Article 4 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=28368275&loc=d3e5162-111524 </ElementReferences> |
| | | <IsTotalLabel> false </IsTotalLabel> |
| | | <UnitID> 0 </UnitID> |
| | | <Label> NOTES RECEIVABLE [Text Block] </Label> |
| | | </Row> |
| | </Rows> |
| <Footnotes/> |
| <IsEquityReport> false </IsEquityReport> |
| <ReportName> NOTES RECEIVABLE </ReportName> |
| <MonetaryRoundingLevel> UnKnown </MonetaryRoundingLevel> |
| <SharesRoundingLevel> UnKnown </SharesRoundingLevel> |
| <PerShareRoundingLevel> UnKnown </PerShareRoundingLevel> |
| <ExchangeRateRoundingLevel> UnKnown </ExchangeRateRoundingLevel> |
| <HasCustomUnits> true </HasCustomUnits> |
| <IsEmbedReport> false </IsEmbedReport> |
| <IsMultiCurrency> false </IsMultiCurrency> |
| <ReportType> Notes </ReportType> |
| <RoleURI> http://www.en.chinakandi.com/taxonomy/role/NotesToFinancialStatementsLoansNotesTradeAndOtherReceivablesDisclosureTextBlock </RoleURI> |
| <NumberOfCols> 1 </NumberOfCols> |
| <NumberOfRows> 1 </NumberOfRows> |
| </InstanceReport> |