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ACCOUNTS RECEIVABLE, MEDICAL RECEIVABLE AND MANAGEMENT AND OTHER FEES RECEIVABLE | 12 Months Ended
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Jun. 30, 2024
Receivables [Abstract] |
ACCOUNTS RECEIVABLE, MEDICAL RECEIVABLE AND MANAGEMENT AND OTHER FEES RECEIVABLE | NOTE 3 – ACCOUNTS RECEIVABLE, MEDICAL RECEIVABLE AND MANAGEMENT AND OTHER FEES RECEIVABLE Long Term Accounts Receivable Long term accounts receivable balances at June 30, 2024 and June 30, 2023 amounted to $829,473 and $710,085, respectively. The Company will generate revenue from long-term, non-cancellable contracts to provide service and repair services. Future revenue to be recognized over the following four years at June 30, 2024 is as follows:
Schedule of receivables - non current - net
2026 |  | $ | 631,415 |
2027 |  |  | 369,429 |
2028 |  |  | 87,000 |
2029 |  |  | 87,000 |
Total |  | $ | 1,174,844 |
The following represents a summary of allowance for credit losses for the years ended June 30, 2024 and 2023, respectively:
Summary of allowance for credit losses
Description |  | Balance June 30, 2023 |  | Additions(Recovery) (1) |  | Deductions |  | Balance June 30, 2024
Accounts receivable |  | $ | 198,593 |  |  | $ | — |  |  | $ | 32,544 |  |  | $ | 166,049 |
Management and other fees receivable |  |  | 12,608,567 |  |  |  | (238,646 | ) |  |  | — |  |  |  | 12,369,921 |
Management and other fees receivable - related medical practices |  |  | 3,989,692 |  |  |  | 2,120,707 |  |  |  | — |  |  |  | 6,110,399 |
Notes receivable |  |  | 777,354 |  |  |  | — |  |  |  | — |  |  |  | 777,354 |
|  | Balance |  |  |  |  |  | Balance
Description |  | June 30, 2022 |  | Additions |  | Deductions |  | June 30, 2023
Accounts receivable |  | $ | 204,597 |  |  | $ | 55,000 |  |  | $ | 61,004 |  |  | $ | 198,593 |
Management and other fees receivable |  |  | 16,627,917 |  |  |  | 4,007,382 |  |  |  | 8,026,732 |  |  |  | 12,608,567 |
Management and other fees receivable - related medical practices |  |  | 4,686,893 |  |  |  | 1,451,094 |  |  |  | 2,148,295 |  |  |  | 3,989,692 |
Notes receivable |  |  | 777,354 |  |  |  | — |  |  |  | — |  |  |  | 777,354 |
(1) | Included in provision for credit losses.
Net revenues from management and other fees charged to the related party medical practices accounted for approximately 12% and 12%, of the consolidated net revenues for the years ended June 30, 2024 and 2023, respectively. Tallahassee Magnetic Resonance Imaging, PA, Stand Up MRI of Boca Raton, PA and Stand Up MRI & Diagnostic Center, PA (all related party medical practices) entered into a guaranty agreement, pursuant to which they cross guaranteed all management fees which are payable to the Company, which have arisen under each individual management agreement. The following table sets forth the number of our facilities for the years ended June 30, 2024 and 2023. Total Facilities
Schedule of facilities |  |  |  |  |  |  |  |
|  | For the Year Ended June 30,
|  | 2024 |  | 2023
Total Facilities Owned or Managed (at Beginning of Year) |  |  | 27 |  |  |  | 27 |
Facilities Added by: |  |  |  |  |  |  |  |
Internal development |  |  | 1 |  |  |  | 1 |
Managed Facilities Closed |  |  | — |  |  |  | (1 | )
Total Facilities Owned or Managed (at End of Year) |  |  | 28 |  |  |  | 27 |

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- Definition The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
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