Quarterly report pursuant to Section 13 or 15(d)

Accounts Receivable

v3.20.1
Accounts Receivable
3 Months Ended
Mar. 31, 2020
Accounts Receivable Net Current [Abstract]  
Accounts Receivable

 

NOTE 4 – ACCOUNTS RECEIVABLE

Accounts receivable, net consists of the following: 

 

 

 

March 31,

 

 

December 31,

 

 

 

2020

 

 

2019

 

Accounts receivable

 

$

9,122,983

 

 

$

11,655,725

 

Unbilled receivables

 

 

214

 

 

 

25,432

 

 

 

 

9,123,197

 

 

 

11,681,157

 

Less:  allowance for doubtful accounts

 

 

(11,518

)

 

 

(14,000

)

 

 

$

9,111,679

 

 

$

11,667,157

 

 

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.  Recoveries of bad debt expense related to accounts receivable was ($2,405) and ($88) for the three month periods ended March 31, 2020 and 2019, respectively.