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ACCOUNTS AND NOTES RECEIVABLE
 6 Months Ended
Jun. 30, 2023
Receivables [Abstract]  
ACCOUNTS AND NOTES RECEIVABLE

NOTE 3 – ACCOUNTS AND NOTES RECEIVABLE

 

   June 30, 2023   December 31, 2022 
Accounts Receivable  $845,144    1,443,567 
Accounts Receivable Related Party   830,570    - 
Less reserve for uncollectable accounts   (95,000)   (75,000)
Total  $1,580,714    1,368,567 

 

Our Accounts Receivable is pledged to Nations Interbanc, our line of credit.

 

   June 30, 2023   December 31, 2022 
Lease asset  $217,584   $217,584 

 

The Company is currently modifying the assets subject to lease to meet the provisions of the agreement, and as of June 30, 2023 any collection on the lease payments was not yet considered probable, resulting in no derecognition of the underlying asset and no net lease investments recognized on the sales-type lease pursuant to ASC 842-30-25-3.

 

   June 30, 2023   December 31, 2022 
Long-term financing receivables  $932,270   $932,270 
Less Reserve for uncollectable accounts   (247,500)   (247,500)
Long-term financing receivables - net  $684,770   $684,770 

 

On a contract-by-contract basis or in response to certain situations or installation difficulties, the Company may elect to allow non-interest-bearing repayments in excess of 1 year.

 

Our long-term financing Receivable are pledged to Nations Interbanc, our line of credit.