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Trade Accounts and Bills Receivable, Net
 9 Months Ended
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