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Accounts Receivable - Net
12 Months Ended
Dec. 31, 2021
Loans And Leases Receivable Disclosure [Abstract]  
Accounts Receivable – net

5.

Accounts Receivable – net

 

 

 

 

December 31,

 

 

 

 

2021

 

 

2020

 

 

Trade receivables

 

$

932,857

 

 

$

257,311

 

 

Allowance for doubtful accounts

 

 

(9,059

)

 

 

(6,680

)

 

 

 

 

923,798

 

 

 

250,631

 

 

Other receivables

 

 

28,604

 

 

 

2,856

 

 

Total accounts receivable

 

$

952,402

 

 

$

253,487

 

 

 

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,

 

 

 

 

2021

 

 

2020

 

 

Aging within one year, net of allowance for doubtful accounts

 

$

902,995

 

 

$

240,266

 

 

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

 

 

20,803

 

 

 

10,365

 

 

Total trade receivables

 

$

923,798

 

 

$

250,631