Accounts Receivable

3 Months Ended

Mar. 31, 2019

Receivables [Abstract]

Accounts Receivable

2.  Accounts Receivable –

Accounts receivable consisted of the following at:

	March 31, 2019			December 31, 2018
Accounts receivable under normal 30 day terms	$	2,254,114		$	2,165,820
Financed contracts:
Current portion of long-term		767,623			866,494
Long-term, net of current portion		1,020,398			1,030,354
Total accounts receivable		4,042,135			4,062,668
Less allowance for doubtful accounts		(165,840	)		(165,840	)
Accounts receivable, net	$	3,876,295		$	3,896,828
Presented on the balance sheet as:
Accounts receivable, net	$	2,855,897		$	2,866,474
Long-term accounts receivable - financed contracts		1,020,398			1,030,354

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 in the trade and financed receivables, but that have not been specifically identified.

Accounts receivable includes financed contracts at March 31, 2019 and December 31, 2018 which were $1,788,021 and $1,896,848, respectively, offset by contract liabilities on the balance sheets of $1,707,650 and $1,690,660, respectively.

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

	March 31, 2019		December 31, 2018
Accounts receivable allowance, beginning of year	$	165,840	$	181,473
Provision adjustment		0		125,405
Write-off		0		(141,038	)
Accounts receivable allowance, end of period	$	165,840	$	165,840

The allowance for doubtful accounts as of March 31, 2019 and December 31, 2018 is $104,040 for the trade receivables and $61,800 for financed contracts.