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Deferred Revenue
3 Months Ended
Aug. 31, 2019
Revenue from Contract with Customer [Abstract]  
Deferred Revenue

Note 8. Deferred Revenue

 

Advances from a customer pursuant to a contract for the sale of plastic pallets is recognized as deferred revenue. Revenue is recognized by Greystone as pallets are shipped to the customer. Customer advances totaled $-0- and $3,280,500 during the three months ended August 31, 2019 and 2018, respectively. The unrecognized balance of deferred revenue at August 31, 2019 and May 31, 2019, was $2,201,067, respectively.