XML 19 R9.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Accounts Receivable, Net | 6 Months Ended
--- | ---
Jun. 30, 2024
Accounts Receivable, Net [Abstract] |
ACCOUNTS RECEIVABLE, NET | NOTE 2 – ACCOUNTS RECEIVABLE, NET Accounts receivable, net, consist of the following:
|  | June 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Trade accounts receivable |  |  | 13,960,927 |  |  |  | 14,290,522 |
Less: allowance for doubtful accounts |  |  | (13,706,077 | ) |  |  | (13,786,074 | )
Trade accounts receivable, net |  | $ | 254,850 |  |  | $ | 504,448 |
We recognize bad debt expenses per actual write-offs as well as changes of allowance for doubtful accounts. To the extent that our current allowance for doubtful accounts is higher than that of the previous period, we recognize a bad debt expense for the difference during the current period, and when the current allowance is lower than that of the previous period, we recognize a bad debt credit for the difference. The allowance for doubtful account balances were $13.71 million and $13.79 million as of June 30, 2024 and December 31, 2023, respectively. The changes in the allowances for doubtful accounts during the three and six months ended June 30, 2024 and 2023 were as follows:
|  | For the Three Months Ended |  |  | For the Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Balance, Beginning of Period |  |  | 13,759,993 |  |  |  | 16,955,959 |  |  |  | 13,786,074 |  |  |  | 16,739,527 |
Bad debt expense (reversal of allowance for doubtful accounts) |  |  | 8,476 |  |  |  | 4,047 |  |  |  | 6,410 |  |  |  | (5,989 | )
Foreign currency translation adjustment |  |  | (62,392 | ) |  |  | (834,751 | ) |  |  | (86,407 | ) |  |  | (608,283 | )
Balance, End of Period |  |  | 13,706,077 |  |  |  | 16,125,255 |  |  |  | 13,706,077 |  |  |  | 16,125,255 |

X
- Definition The entire disclosure for accounts receivable, contract receivable, receivable held-for-sale, and nontrade receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/326/tableOfContent + Details
Name: | us-gaap_AccountsAndNontradeReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_AccountsReceivableNetAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration