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Schedule II Valuation and Qualifying Accounts
 12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

Item 15.

Exhibits and Financial Statement Schedules

 

(a)        Financial Statements and Schedules

 

The financial statements are set forth under Item 8 of this Annual Report. The following financial statement schedule for the years ended December 31, 2021 and December 31, 2020 is included in this Annual Report on Form 10-K:

 

a.          Valuation and Qualifying Accounts for the years ended December 31, 2021 and December 31, 2020.

 

  

2021

  

2020

 

Bad debt expense

  (28,499)  320,270 

Reserve for obsolete inventory

  162,651   266,021 

 

  

Balance

Beginning

of Year

  

Charges to

Costs and

Expenses

  

Deductions

(1)

  

Balance

End of

Year

 

Year Ended December 31, 2021

                

Allowance for inventory obsolescence

 $723,949  $162,651  $(618,129

)

 $268,470 

Allowance for doubtful accounts

  498,044   (28,499

)

  (60,469

)

  409,076 

Totals

 $1,221,993  $134,152  $(678,598

)

 $677,546 
                 

Year Ended December 31, 2020

                

Allowance for inventory obsolescence

 $665,308  $266,021  $(207,380

)

 $723,949 

Allowance for doubtful accounts

  612,434   320,270   (434,660

)

  498,044 

Totals

 $1,277,742  $586,291  $(642,040

)

 $1,221,993 

 

  

2021

  

2020

 

Allowance for doubtful accounts at the beginning of the period

 $498,044  $612,434 

Bad debt expense

  (28,499

)

  320,270 

Receivables written off during the periods

  (24,415

)

  (484,265

)

Effect of currency translation

  (36,054

)

  49,605 

Allowance for doubtful accounts at the end of the period

 $409,076  $498,044 

 

(1) Includes write-offs, the impact of foreign currency exchange rates.

 

Schedules other than that listed above are omitted because the conditions requiring their filing do not exist or because the required information is provided in the Consolidated Financial Statements, including the Notes thereto. Financial statement schedules have been omitted since they are either not required, not applicable, or the information is otherwise included.