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Trade Accounts and Bills Receivable, Net
 6 Months Ended
Jun. 30, 2020
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, 2019 and June 30, 2020 consisted of the following:

 

   December 31,   June 30, 
   2019   2020 
Trade accounts receivable  $12,517,626   $16,464,428 
Less: Allowance for doubtful accounts   (4,650,686)   (5,009,230)
    7,866,940    11,455,198 
Bills receivable   85,480    92,261 
   $7,952,420   $11,547,459 

  

Included in trade accounts and bills receivables are retention receivables of $2,159,356 and $2,114,897 as of December 31, 2019 and June 30, 2020. 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:

 

   June 30,   June 30, 
   2019   2020 
Balance at beginning of period  $3,657,173   $4,650,686 
Provision for the period   605,098    968,627 
Reversal - recoveries by cash   (281,160)   (540,925)
Charged to consolidated statements of operations and comprehensive (loss) income   323,938    427,702 
Foreign exchange adjustment   2,939    (69,158)
Balance at end of period  $3,984,050   $5,009,230