Accounts Receivable and Contract Assets

3 Months Ended

Mar. 31, 2020

Accounts Receivable and Contract Assets [Abstract]

Accounts Receivable and Contract Assets

3.  Accounts Receivable and Contract Assets

Accounts receivable and contract assets are summarized in the following table:

	As of Mar. 31, 2020			As of Dec. 31, 2019			Change
Accounts receivable – customers	$	4,334		$	4,574		$	(240	)
Life insurance receivable		671			-			671
Other receivables		213			152			61
		5,218			4,726			492
Less: allowance for doubtful accounts		(343	)		(305	)		(38	)
Accounts receivable, net	$	4,875		$	4,421		$	454
Unbilled revenue	$	2,693		$	2,276		$	417

Differences in timing of revenue recognition, billings, and cash collections result in receivables and contract assets.  Generally, billing occurs subsequent to revenue recognition, resulting in a contract asset reported as unbilled revenue on the balance sheet.  The Company does not receive advances or deposits from customers before revenue is recognized so no contract liabilities are reported.  Accounts receivable are recorded when the right to consideration becomes unconditional and are presented separately on the balance sheet.  The changes in accounts receivable – customers and in unbilled revenue were primarily due to normal timing difference between performance and the customer’s payments.

The life insurance receivable was recognized due to a death benefit from a life insurance policy which became payable to the Company during the three months ended March 31, 2020 and was received in the second quarter of 2020.