Quarterly report pursuant to Section 13 or 15(d)

Accounts Receivable

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Accounts Receivable
9 Months Ended
Sep. 30, 2018
Accounts Receivable Net Current [Abstract]  
Accounts Receivable

NOTE 4 – ACCOUNTS RECEIVABLE

 

Accounts receivable, net consists of the following:

 

 

 

September 30,

 

 

December 31,

 

 

 

2018

 

 

2017

 

Accounts receivable

 

$

8,144,255

 

 

$

5,194,831

 

Unbilled receivable

 

 

31,836

 

 

 

-

 

 

 

 

8,176,091

 

 

 

5,194,831

 

Less:  allowance for doubtful accounts

 

 

(97,784

)

 

 

(2,101

)

 

 

$

8,078,307

 

 

$

5,192,730

 

 

Unbilled receivable includes amounts associated with percentage-of-completion accounting, which includes cost and gross profit earned in excess of billing, not currently billable due to contractual provisions. Provision for bad debt expense related to accounts receivable was $(3,638) and $-0- for the three month periods ended September 30, 2018 and 2017, respectively, and $90,793 and $(453) for the nine month periods ended September 30, 2018 and 2017, respectively.