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Trade Accounts and Bills Receivable, Net | 9 Months Ended
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Sep. 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 September 30, 2020 consisted of the following:
|  | December 31, |  |  | September 30, |
|  | 2019 |  |  | 2020 |
Trade accounts receivable |  | $ | 12,517,626 |  |  | $ | 23,664,220 |
Less: Allowance for doubtful accounts |  |  | (4,650,686 | ) |  |  | (4,834,640 | )
|  |  | 7,866,940 |  |  |  | 18,829,580 |
Bills receivable |  |  | 85,480 |  |  |  | 252 |
|  | $ | 7,952,420 |  |  | $ | 18,829,832 |
Included in trade accounts and bills receivables are retention receivables of $2,159,356 and $2,200,583 as of December 31, 2019 and September 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:
|  | September 30, |  |  | September 30, |
|  | 2019 |  |  | 2020 |
Balance at beginning of period |  | $ | 3,657,173 |  |  | $ | 4,650,686 |
Provision for the period |  |  | 735,619 |  |  |  | 981,241 |
Reversal - recoveries by cash |  |  | (292,599 | ) |  |  | (917,707 | )
Charged to consolidated statements of operations and comprehensive (loss) income |  |  | 443,020 |  |  |  | 63,534 |
Foreign exchange adjustment |  |  | (156,210 | ) |  |  | 120,420 |
Balance at end of period |  | $ | 3,943,983 |  |  | $ | 4,834,640

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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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