Accounts Receivable

9 Months Ended

Sep. 30, 2018

Receivables [Abstract]

Accounts Receivable

2.  Accounts Receivable –

Accounts receivable consisted of the following at:

	September 30, 2018			December 31, 2017
Accounts receivable under normal 30 day terms	$	2,748,781		$	1,493,084
Financed contracts:
Current portion of long-term		894,819			1,741,669
Long-term, net of current portion		1,163,823			1,515,120
Total accounts receivable		4,807,423			4,749,873
Less allowance for doubtful accounts		(125,027	)		(181,473	)
Accounts receivable, net	$	4,682,396		$	4,568,400
Presented on the balance sheet as:
Accounts receivable, net	$	3,518,573		$	3,053,280
Long-term accounts receivable - financed contracts		1,163,823			1,515,120

The allowance for financed and trade receivable represents management’s estimate of probable losses in our trade and financed receivables as of the date of the financial statements. The allowance provides for probable losses that have been identified with specific customer relationships and for probable losses believed to be inherent of the trade and financed receivables, but that have not been specifically identified.

Accounts receivable includes financed contracts at September 30, 2018 and December 31, 2017 which are $2,058,642 and $3,256,789, respectively, offset by contract liabilities on the balance sheets of $1,903,639 and $3,313,772, respectively.

A roll-forward of the Company’s allowance for doubtful accounts for the periods presented is as follows:

	September 30, 2018			December 31, 2017
Accounts receivable allowance, beginning of year	$	181,473		$	200,266
Provision adjustment		84,592			(18,793	)
Write-off		(141,038	)		0
Accounts receivable allowance, end of period	$	125,027		$	181,473

The allowance for doubtful accounts is $125,027 and $181,473 for the trade receivables at September 30, 2018 and December 31, 2017, respectively, and $0 for the financed contracts at both September 30, 2018 and December 31, 2017.