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Accounts Receivable - Net
12 Months Ended
Dec. 31, 2022
Loans and Leases Receivable Disclosure [Abstract]  
Accounts Receivable – net
6.
Accounts Receivable – net

 

 

 

 

December 31,

 

 

 

 

2022

 

 

2021

 

 

Trade receivables

 

$

509,483

 

 

$

932,857

 

 

Allowance for doubtful accounts

 

 

(12,469

)

 

 

(9,059

)

 

 

 

 

497,014

 

 

 

923,798

 

 

Other receivables

 

 

40,104

 

 

 

28,604

 

 

Total accounts receivable

 

$

537,118

 

 

$

952,402

 

The allowance for doubtful accounts reflects the Company's best estimate of probable losses inherent in the accounts receivable balance.

 

The Company estimates the allowance based on historical experience, the age of the accounts receivable balances, credit quality of the Company’s customers, current and forecasted future economic conditions, and other factors that may affect customers’ ability to pay.

 

The Company’s maximum exposure to credit risk at the balance sheets date relating to trade receivables is summarized as follows:

 

 

 

 

December 31,

 

 

 

 

2022

 

 

2021

 

 

Aging within one year, net of allowance for doubtful accounts

 

$

424,060

 

 

$

902,995

 

 

Aging greater than one year, net of allowance for doubtful accounts

 

 

72,954

 

 

 

20,803

 

 

Total trade receivables

 

$

497,014

 

 

$

923,798