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Note 5 - Accounts Receivable

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

5. ACCOUNTS RECEIVABLE

Accounts receivable are carried at original amount less an estimate made for doubtful receivables based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for doubtful receivables by regularly evaluating individual customer receivables and considering a customer’s financial condition, credit history, and current economic conditions. Accounts receivable are written off when deemed uncollectible.

Accounts receivable at March 31, 2022 and December 31, 2021 consisted of the following: 

		March 31,				December 31,
		2022				2021
Accounts receivable		$	2,817,116			$	1,234,411
Loss on foreign currency			(50,000	)			(50,000	)
Allowance for doubtful accounts			(213,785	)			(213,785	)
Accounts receivable, net of allowances for doubtful accounts		$	2,553,331			$	970,626

Bad debt expenses (if any) are recorded in selling, general, and administrative expense. 

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- References

No definition available.

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- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-URI https://asc.fasb.org/subtopic&trid=2196772

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