Receivables

9 Months Ended

Sep. 30, 2023

Receivables [Abstract]

Receivables

14) Receivables

Receivables consist of the following:

	As of September 30, 2023			As of December 31, 2022
Contracts with customers	$	6,088,152		$	5,392,779
Receivables from sales agents		2,527,586			2,209,185
Other		8,404,014			23,200,919
Total receivables		17,019,752			30,802,883
Allowance for doubtful accounts		(1,520,801	)		(2,229,791	)
Net receivables	$	15,498,951		$	28,573,092

The Company records an allowance for credit losses for its receivables in accordance with GAAP. See Note 2 regarding the adoption of ASU 2016-13.

The following table presents a roll forward of the allowance for credit losses:

	Allowance
Beginning balance - January 1, 2023	$	2,229,791
Change in provision for credit losses (1)		(597,430	)
Charge-offs		(111,560	)
Ending balance - September 30, 2023	$	1,520,801
Beginning balance - January 1, 2022	$	1,800,725
Change in provision for credit losses (1)		799,888
Charge-offs		(370,822	)
Ending balance - December 31, 2022	$	2,229,791

(1) Included in other expenses on the condensed consolidated statements of earnings

SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

September 30, 2023 (Unaudited)