Unearned Revenue |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Unearned Revenue [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
| UNEARNED REVENUE |
Unearned revenue includes customer deposits and deferred revenue which represent prepayments from customers. At December 31, 2023 and 2022, the Company had unearned revenue totaling $5,171,479 and $633,148, respectively.
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- Definition The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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- References No definition available.
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