4. Accounts Receivable

6 Months Ended

Jun. 30, 2014

Accounts Receivable, Net [Abstract]

Accounts Receivable

Note 4.    Accounts Receivable

Accounts receivable consist of the following:

	June 30,			December 31,
	2014			2013
Trade accounts receivable	$	22,551,757		$	25,585,112
Less allowance for prompt pay discounts		(502,155	)		(531,722	)
Less allowance for doubtful accounts		(58,491	)		(84,328	)
Total trade receivables		21,991,111			24,969,062
Other miscellaneous receivables		44,441			57,475
Receivables from third parties – revenue sharing arrangements		733,816			654,834
Total accounts receivable	$	22,769,368		$	25,681,371

The Company typically requires customers to remit payments within the first 30 days for brand purchases or 60 to 120 days for generic purchases (depending on the customer and the products purchased). The Company offers wholesale distributors a prompt payment discount, which is generally 2%-3%, as an incentive to remit payment within these deadlines. Accounts receivable are stated net of the estimated prompt pay discount.