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Accounts and Notes Receivable, Net
 6 Months Ended
Dec. 31, 2019
Receivables [Abstract]  
Accounts and notes receivable, net

Note 4 – Accounts and notes receivable, net

 

Accounts and notes receivable, net consisted of the following:

 

   December 31,
2019		   June 30,
2019		 
   (unaudited)     
Accounts receivable  $55,961,513   $58,129,493 
Notes receivable   -    72,814 
Less:  Allowance for doubtful accounts   (24,088,555)   (21,191,849)
Total accounts and notes receivable, net  $31,872,958   $37,010,458 

 

Movement of allowance for doubtful accounts is as follows:

 

   Six months ended
December 31,
2019		   Year ended
June 30,
2019		 
   (unaudited)     
Beginning balance  $21,191,849   $19,291,772 
Provision for doubtful accounts   3,159,302    2,601,781 
Less: write-off   -    - 
Exchange rate effect   (262,596)   (701,704)
Ending balance  $24,088,555   $21,191,849 

 

During the six months ended December 31, 2019 and 2018, the Company offset approximately $8.1 million and $3.3 million of accounts receivable and accounts payable pursuant to debt obligation transfer agreements, respectively.