SANDYPORT HOMEOWNERS ASSOCIATION LIMITED NOTES TO FINANCIAL STATEMENTS FOR THE

YEAR ENDED DECEMBER 31, 2021 (CONTINUED)

(Expressed in Bahamian dollars)

6.cash and cash equivalents

The Association does not earn interest on cash at bank at the prevailing market interest rates. The current accounts earned no interest during the years ended December 31, 2021 and December 31, 2020. The Association’s current account is non-interest bearing.

7.accounts receivable

Accounts receivable is comprised of the following balances:

Cash and cash equivalents are comprised of the following: The movement in the provision for doubtful accounts is as follows:

The aging of receivables are comprised of the following balances: