ACCOUNTS PAYABLE AND ACCRUED EXPENSES
|3 Months Ended|
Mar. 31, 2022
|Payables and Accruals [Abstract]|
|ACCOUNTS PAYABLE AND ACCRUED EXPENSES||
NOTE 12 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES
Accounts payable and accrued expenses consist of the following:
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
The Company’s products are warranted against defects in materials and workmanship for a period of one to three years from the date of acceptance of the product by the customer. The customers may purchase an extended warranty providing coverage up to a maximum of 60 months. A provision for estimated future warranty costs is recorded for expected or historical warranty matters related to equipment shipped and is included in accounts payable and accrued expenses in the Condensed Consolidated Balance Sheets as of December 31, 2021 and March 31, 2022.
The following table summarizes warranty activity for the three-month periods ended March 31, 2021 and 2022:
SCHEDULE OF PRODUCT WARRANTY LIABILITY
The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef