General form of registration statement for all companies including face-amount certificate companies

Unearned Revenue

v3.21.4
Unearned Revenue
 9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Unearned Revenue [Abstract]    
UNEARNED REVENUE
I. UNearned revenue:

 

Unearned revenue includes customer deposits and deferred revenue which represent prepayments from customers. At September 30, 2021 and December 31, 2020, the Company had unearned revenue totaling $620,842 and $564,227, respectively.

 

    Nine Months Ended
September 30,
2021		     Twelve Months Ended
December 31,
2020		  
Beginning Balance   $ 564,227     $ 362,951  
Revenue recognized     (27,075,116 )     (37,752,173 )
Amounts collected or invoiced     27,131,731       37,953,449  
Ending Balance   $ 620,842     $ 564,227  
J. UNearned revenue:

 

Unearned revenue includes customer deposits and deferred revenue which represent prepayments from customers.

  

    2020     2019  
Balance at January 1,   $ 362,951     $ 953,306  
Revenue recognized     (37,752,173 )     (30,316,831 )
Amounts collected or invoiced     37,953,449       29,726,476  
Balance at December 31,   $ 564,227     $ 362,951