Quarterly report pursuant to Section 13 or 15(d)

Accounts Receivable

v3.19.3
Accounts Receivable
9 Months Ended
Sep. 30, 2019
Accounts Receivable Net Current [Abstract]  
Accounts Receivable

 

NOTE 4 – ACCOUNTS RECEIVABLE

Accounts receivable, net consists of the following:

 

 

 

September 30,

 

 

December 31,

 

 

 

2019

 

 

2018

 

Accounts receivable

 

$

9,114,571

 

 

$

10,488,396

 

Unbilled receivables

 

 

107,193

 

 

 

65,157

 

 

 

 

9,221,764

 

 

 

10,553,553

 

Less:  allowance for doubtful accounts

 

 

(13,598

)

 

 

(13,403

)

 

 

$

9,208,166

 

 

$

10,540,150

 

 

Unbilled receivables include amounts associated with percentage of completion and milestone billing accounting, which includes cost and gross profit earned in excess of billing, not currently billable due to contractual provisions.  The provision for bad debt expense related to accounts receivable was $2,150 and $3,638 for the three month periods ended September 30, 2019 and 2018, respectively and $495 and $90,793 for the nine month periods ended September 30, 2019 and 2018, respectively.