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Trade Accounts and Bills Receivable, Net
 6 Months Ended
Jun. 30, 2019
Trade Accounts and Bills Receivable, net [Abstract]  
Trade Accounts and Bills Receivable, net

3. Trade Accounts and Bills Receivable, net

 

Trade accounts and bills receivable as of December 31, 2018 and June 30, 2019 consisted of the following:

 

   December 31,   June 30, 
   2018   2019 
Trade accounts receivable  $19,054,863   $19,102,558 
Less: Allowance for doubtful accounts   (3,657,173)   (3,984,050)
    15,397,690    15,118,508 
Bills receivable   6,353,342    2,188 
   $21,751,032   $15,120,696 

  

Included in trade accounts and bills receivables are retention receivables of $1,119,490 and $1,706,061 as of December 31, 2018 and June 30, 2019. Retention receivables are interest-free and recoverable at the end of the retention period of three to five years.

 

An analysis of the allowance for doubtful accounts is as follows:

 

   December 31,   June 30, 
   2018   2019 
Balance at beginning of period  $3,700,922   $3,657,173 
Provision for the period   474,950    605,098 
Reversal - recoveries by cash   (312,462)   (281,160)
Charged to consolidated statements of operations and comprehensive (loss) income   162,488    323,938 
Foreign exchange adjustment   (206,237)   2,939 
Balance at end of period  $3,657,173   $3,984,050