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Accounts Receivable
 3 Months Ended
Mar. 31, 2022
Accounts Receivable Net Current [Abstract]  
Accounts Receivable

NOTE 4 – ACCOUNTS RECEIVABLE

Accounts receivable, net consists of the following:

 

 

 

March 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Accounts receivable

 

$

9,087,520

 

 

$

5,105,426

 

Unbilled receivables

 

 

-

 

 

 

-

 

 

 

 

9,087,520

 

 

 

5,105,426

 

Less:  allowance for doubtful accounts

 

 

(10,071

)

 

 

(15,622

)

 

 

$

9,077,449

 

 

$

5,089,804

 

 

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.  (Recovery) provision for bad debt expense related to accounts receivable was $5,524 and $16,590 for the three month periods ended March 31, 2022 and 2021, respectively.  The increase in accounts receivable is attributable to the timing of shipments.  A significant portion of quarterly sales was shipped in the final days of the quarter.