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Allowance for Credit Losses

3 Months Ended

Mar. 31, 2024

Allowance for Credit Losses

Allowance for Credit Losses

Note 12 – Allowance for Credit Losses

The activity in the allowance for doubtful accounts was as follows during the three-month period ended 2024 and years ended December 31, 2023:

		2024				2023
Balance at the beginning of the year		$	1,645,045			$	1,440,678
Adjustment to expected losses on accounts receivable			(1,100,000	)			786,549
Charge-offs			(62,587	)			(582,189	)
Recoveries			4,700				7
Balance at the end of the year		$	487,158			$	1,645,045

The allowance for doubtful accounts at March 31, 2024 was $487,158, a decrease of $1,157,887 from December 31, 2023. During 2024, we made an adjustment to the expected losses for accounts receivable for a balance due from a former client in 2022 that now pays consistently, has significantly reduced its outstanding amount owed and is expected to pay the remaining amount due.