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Allowance for Doubtful Accounts
3 Months Ended
Mar. 31, 2013
Allowance for Doubtful Accounts  
Allowance for Doubtful Accounts

 

Note 5 - Allowance for Doubtful Accounts

 

The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its tenants to make required rent payments.  If the financial condition of a specific tenant were to deteriorate resulting in an impairment of its ability to make payments, additional allowances may be required.  At March 31, 2013 and December 31, 2012, the balance in allowance for doubtful accounts was $115,000 and $132,000, respectively, recorded as a reduction to accounts receivable. The Company records bad debt expense as a reduction of rental income. For the three months ended March 31, 2012, the Company recorded bad debt expense of $17,000 in income from continuing operations. For the three months ended March 31, 2013, the Company did not incur any bad debt expense.