|
NOTE 5– ACCOUNTS RECEIVABLE
Accounts receivable consisted of the following on March 31, 2026, and December 31, 2025:
| |
|
March 31, |
|
|
December 31, |
|
| |
|
2026 |
|
|
2025 |
|
| Trade accounts receivable |
|
$ |
3,764,447 |
|
|
$ |
3,567,961 |
|
| Allowance for current expected credit losses |
|
|
(100,197 |
) |
|
|
(137,969 |
) |
| Total accounts receivable, net |
|
$ |
3,664,250 |
|
|
$ |
3,429,992 |
|
The roll-forward of the allowance for doubtful accounts for the periods ended March 31, 2026 and December 31, 2025 is as follows:
| |
|
March 31, |
|
|
December 31, |
|
| |
|
2026 |
|
|
2025 |
|
| Allowance for current expected credit losses at the beginning of the period |
|
$ |
137,969 |
|
|
$ |
637,556 |
|
| Bad debt expense |
|
|
(34,658 |
) |
|
|
29,439 |
|
| Receivables written off during the period |
|
|
- |
|
|
|
(608,331 |
) |
| Effect of exchange rate changes |
|
|
(3,114 |
) |
|
|
79,305 |
|
| Allowance for current expected credit losses at the end of the period |
|
$ |
100,197 |
|
|
$ |
137,969 |
|
|