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NOTE 4. ACCOUNTS RECEIVABLE | 3 Months Ended
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Mar. 31, 2018
Receivables [Abstract] |
NOTE 4. ACCOUNTS RECEIVABLE | NOTE 4. ACCOUNTS RECEIVABLE The nature of the net accounts receivable for March 31, 2018, in the amount of $4,020,680 are for Export Service Agreements. The Company's allowance for bad debt is $428,403 which provides a net receivable balance of $3,592,277. Accounts' receivable is stated at the amount management expects to collect from outstanding balances. Management provides for probable uncollected amounts through a charge to earnings and a credit to an allowance for bad debts based on its assessment of the current status of individual accounts. Balances that are still outstanding after management has used reasonable collection efforts are written off through a charge to the allowance for bad debts and a credit to accounts receivable. Accounts receivable consist of the following:
|  | March 31, |  | December 31,
|  | 2018 |  | 2017
Accounts receivable |  | $ | 1,097,034 |  |  | $ | 1,045,412 |
Accounts receivable- related parties |  |  | 2,923,646 |  |  |  | 2,459,135 |
Less: Allowance for doubtful accounts |  |  | (428,403 | ) |  |  | (403,568 | )
Accounts receivable, net |  | $ | 3,592,277 |  |  | $ | 3,100,979 |
Bad debt expense was $24,036 and $19,494 for the three months ended March 31, 2018 and 2017, respectively. Allowance for bad debt policy Our bad debt policy is determined by the Company's periodic review of each account receivable for reasonable assurance of collection. Factors considered are the exporter's financial condition, past payment history if any, any conversations with the exporter about the exporter's financial conditions and any other extenuating circumstances. Based upon the above factors the Company makes a determination whether the receivable are reasonable assured of collection. Based upon our review if required we adjust the allowance for bad debt.

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- Definition The entire disclosure for financing receivables. Examples of financing receivables include, but are not limited to, loans, trade accounts receivables, notes receivable, credit cards, and receivables relating to a lessor's right(s) to payment(s) from a lease other than an operating lease that is recognized as assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -URI http://asc.fasb.org/topic&trid=2196771 + Details
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- References No definition available. + Details
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