Note 2 - Summary of significant accounting policies: Investment in account receivable, net of discount (Policies)
|12 Months Ended|
Dec. 31, 2019
|Investment in account receivable, net of discount||
Investment in account receivable, net of discount
On April 10, 2015, the Company entered into an Exchange Agreement whereby the Company received an investment in an account receivable with installment payments of $117,000 per year through 2026. The investment is stated at face value, net of unamortized purchase discount. The discount is amortized to interest income over the term of the exchange agreement.
Disclosure of accounting policy for determining the allowance for doubtful accounts for trade and other accounts receivable balances, and when impairments, charge-offs or recoveries are recognized.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef