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Contract Liabilities
6 Months Ended
Dec. 31, 2023
Contract Liabilities [Abstract]  
CONTRACT LIABILITIES

9. CONTRACT LIABILITIES

 

As of June 30, 2023, and December 31, 2023, the Company had total contract liabilities of $988,556 and $1,705,171, respectively. These liabilities are advance deposits received from customers after an order has been placed. As of December 31, 2023, the Company expects all of the contract liabilities to be settled in less than one year. The increase in the balance at December 31, 2023 was due to more orders on hand on that date.