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Receivables
 3 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Receivables

14) Receivables

 

Receivables consist of the following:

 

   As of March 31, 2025   As of December 31, 2024 
Contracts with customers  $7,103,871   $7,095,589 
Receivables from sales agents   4,169,465    4,028,881 
Other   6,302,725    6,412,804 
Total receivables   17,576,061    17,537,274 
Allowance for credit losses   (1,632,099)   (1,678,531)
Net receivables  $15,943,962   $15,858,743 

 

The Company records an allowance for credit losses for its receivables in accordance with GAAP.

 

The following table presents a roll forward of the allowance for credit losses as of the dates indicated:

 

   Three Months Ended 
Beginning balance - December 31, 2024  $1,678,531 
Change in provision for credit losses (1)   16,142 
Charge-offs   (62,574)
Ending balance - March 31, 2025  $1,632,099 
      
Beginning balance - December 31, 2023  $1,897,887 
Change in provision for credit losses (1)   (118,497)
Charge-offs   (23,837)
Ending balance - March 31, 2024  $1,755,553 

 

 
(1)Included in other expenses on the condensed consolidated statements of earnings

 

 

SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

March 31, 2025 (Unaudited)