Accounts Receivable

9 Months Ended

Sep. 30, 2020

Receivables [Abstract]

Accounts Receivable

Accounts Receivable

Accounts receivable are considered past due when payments are not received on a timely basis in accordance with the Company’s credit terms, which is generally 30 days from invoice date. Accounts considered uncollectible are written off. The Company’s estimate of the allowance for doubtful accounts is based on historical experience, its evaluation of the current status of receivables, and unusual circumstances, if any.

The following table presents the aging analysis of trade receivables as of September 30, 2020 and December 31, 2019:

	September 30, 2020		December 31, 2019
Past due:
Less than 30 days past due	$	3,076,174	$	4,306,064
30-60 days past due	211,884		341,956
60-90 days past due	—		10,302
Greater than 90 days past due	3,617		14,162
Total past due	3,291,675		4,672,484
Current	21,499,877		19,748,073
Totals	$	24,791,552	$	24,420,557

In general, cash is applied to the oldest outstanding invoice first, unless payment is for a specified invoice.  The Company, on a case by case basis, may charge a late fee of 1.5% per month on past due receivables.