Quarterly report pursuant to Section 13 or 15(d)

Accounts Receivable

v3.21.1
Accounts Receivable
3 Months Ended
Mar. 31, 2021
Accounts Receivable Net Current [Abstract]  
Accounts Receivable

NOTE 3 – ACCOUNTS RECEIVABLE

Accounts receivable, net consists of the following:

 

 

 

March 31,

 

 

December 31,

 

 

 

2021

 

 

2020

 

Accounts receivable

 

$

5,749,660

 

 

$

7,491,397

 

Unbilled receivables

 

 

4

 

 

 

106

 

 

 

 

5,749,664

 

 

 

7,491,503

 

Less:  allowance for doubtful accounts

 

 

(15,989

)

 

 

(33,120

)

 

 

$

5,733,675

 

 

$

7,458,383

 

 

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.  Provision for bad debt expense related to accounts receivable was ($16,590) and ($2,405) for the three month periods ended March 31, 2021 and 2020, respectively.