NOTE 3 - CUSTOMER DEPOSITS |
3 Months Ended |
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Mar. 31, 2025 | |
Notes | |
NOTE 3 - CUSTOMER DEPOSITS | NOTE 3 – CUSTOMER DEPOSITS
The customers deposit account relates to payments received from customers before product has been shipped. When the product is shipped the Company recognizes the associated revenue by reclassifying the customer deposit to the appropriate revenue account. By contrast, the Contract Liabilities account relates to long-term contracts where revenue is recognized over the term of the contract. For the periods ended March 31, 2025 and December 31, 2024, the balance due under customer deposits was $772,298 and $845,272, respectively. |