V$.$ Revenue Recognition, Cash and Receivables

For $2018,$ what approach did The Eastern Company choose to adopt the new revenue

recognition GAAP $($i$.$e$.,$ ASU $2014-09/$ Topic ASC $606)?$

Per their footnote disclosure regarding Revenue Recognition, what factors do they

consider in determining whether control transfers to the customer upon shipment of their

products?

For $2023,$ they reported Net Sales of $$273,454,857$ on their Consolidated Statements of

Income. How much of this amount pertains to foreign sales?

What does The Eastern Company consider to be a "cash equivalent"? Does their

definition of a "cash equivalent" differ from that of either Stanley, Black & Decker, Inc.

or Snap$-$on$,$ Inc.?

For $2023,$ "Cash and cash equivalents" are $$8,299,453.$ Of this amount, approximately

how much is held in foreign countries?

$6$Complete the following table and provide comments:

How much Bad Debt Expense did they recognize for $2023$ and $2022?$

Do they have an "Allowance $[$or Reserve$]$ for product returns" account? Support your

answer.

What is their Accounts Receivable Turnover ratio for $2023$ and $2022?$ How many days,

on average, of Net Sales does Accounts Receivable represent for each year?

For $2023,$ "Current portion of note receivable" is $$573,269$ and "Long term notes

receivable, less current portion" is $$374,932.$ These accounts $/$ amounts did not appear on

the $2019$ Balance Sheet. What event$($s$)$ led to the recognition of these assets?