Annual report pursuant to Section 13 and 15(d)

REVENUE RECOGNITION

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REVENUE RECOGNITION
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Disaggregation of Revenues
Sales are disaggregated by our segments, which represent our principal lines of business, as well as by our private label products versus distributed brands, or by commercial fixture revenue. See Note 17, Segments, for disaggregated revenue by segment.
Contract Balances
Depending on the timing of when title of product transfers to a customer and when a customer makes payments for such product, the Company recognizes a accounts receivable (asset) or a customer deposit (liability).
The opening and closing balances of the Company’s accounts receivables and customer deposits are as follows:
Accounts Receivable Customer Deposits
Opening balance, January 1, 2022 $ 5,741  $ 11,686 
Closing balance, December 31, 2022 8,336  4,338 
Increase (decrease) $ 2,595  $ (7,348)
Opening balance, January 1, 2021 $ 3,901  $ 5,155 
Closing balance, December 31, 2021 5,741  11,686 
Increase (decrease) $ 1,840  $ 6,531 
Of the total amount of customer deposit liability as of January 1, 2022, $11.1 million was reported as revenue during the year ended December 31, 2022. Of the total amount of customer deposit liability as of January 1, 2021, $4.4 million was reported as revenue during the year ended December 31, 2021.
The Company also has notes receivables under longer term financing arrangements at interest rates typically ranging from 6% to 12% with repayment terms typically ranging for 12 to 18 months.
Notes receivable at December 31, 2022 and 2021 are as follows: 
December 31, 2022 December 31, 2021
Notes receivable $ 2,464  $ 2,962 
Allowance for losses (1,250) (522)
Notes receivable, net $ 1,214  $ 2,440 
The following table summarizes changes in notes receivable balances that have been deemed impaired.
December 31,
2022		 December 31,
2021
Notes receivable $ 1,500  $ 1,500 
Allowance for losses (1,250) (522)
Notes receivable, net $ 250  978