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Schedule II Valuation and Qualifying Accounts
 12 Months Ended
Dec. 31, 2023
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, 2023 and December 31, 2022 is included in this Annual Report on Form 10-K:

 

 

a.

Valuation and Qualifying Accounts for the years ended December 31, 2023 and December 31, 2022.

 

  

2023

  

2022

 

Bad debt expense

  82,066   (24,534)

Reserve for obsolete inventory

  177,953   404,160 

 

  

Balance

Beginning

of Year

  

Charges to

Costs and

Expenses

  

Deductions

(1)

  

Balance

End of

Year

 

Year Ended December 31, 2023

                

Allowance for inventory obsolescence

 $663,227  $177,953  $26,278  $867,458 

Allowance for doubtful accounts

  59,559   82,066   (6,713)  134,912 

Totals

 $722,786  $260,019  $19,565  $1,002,370 
                 

Year Ended December 31, 2022

                

Allowance for inventory obsolescence

 $268,470  $404,160  $(9,403) $663,227 

Allowance for doubtful accounts

  409,076   (24,534)  (324,983)  59,559 

Totals

 $677,546  $379,626  $(334,386) $722,786 

 

  

2023

  

2022

 

Allowance for doubtful accounts at the beginning of the period

 $59,559  $409,076 

Bad debt expense

  82,066   (24,534)

Receivables written off during the periods

  (10,298)  (295,778)

Effect of currency translation

  3,585   (29,205)

Allowance for doubtful accounts at the end of the period

 $134,912  $59,559 

 

(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.