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Accounts Receivable, net | 9 Months Ended
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Sep. 30, 2023
Accounts Receivable, after Allowance for Credit Loss [Abstract] |
Accounts Receivable, net | Note 3 – Accounts Receivable, net The Company’s accounts receivable, net consists of accounts receivables recorded in the ordinary course of business associated with the recognition of revenue from contracts with customers. As of December 31, 2022, accounts receivable, net recorded on the consolidated balance sheet was $1.0 million, consisting of accounts receivable of $1.1 million offset by an allowance for doubtful accounts of $0.1 million. On January 1 2023, the Company recorded an additional reserve for credit losses for accounts receivable in accordance with ASC 326, as described in Note 2 – Summary of Significant Accounting Policies, Recently Adopted Accounting Pronouncement. The cumulative effect as of December 31, 2022 of the modified retrospective method of adoption of ASC 326 required the Company to record on the consolidated balance sheets as of January 1, 2023 an additional reserve to accounts receivable for credit losses of approximately $10,000 for the estimated credit losses attributable to accounts receivable as of December 31, 2022. The following presents the adjustment to accounts receivable, net as a result of the implementation of ASC 326 on January 1, 2023 (in thousands):
Accounts receivable as of December 31, 2022 |  | $ | 1,110 |
Allowance for doubtful accounts as of December 31, 2022 |  |  | (122 | )
Cumulative effect of the implementation of ASC 326 |  |  | (10 | )
Beginning balance of reserve for credit losses as of January 1, 2023 |  |  | (132 | )
Accounts receivable, net of reserve for credit losses as of January 1, 2023 |  | $ | 978 |
In accordance with ASC 326, the Company performs a review of accounts receivables on a quarterly basis. During the nine months ended September 30, 2023, the Company recorded no material adjustments for credit losses in selling, general and administrative expense on the condensed consolidated statement of income related to accounts receivable. As of September 30, 2023, the reserve for credit losses was approximately $0.1 million.

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//310-10/tableOfContent + Details
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