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DEFERRED CHARGES

12 Months Ended

Jul. 31, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

DEFERRED CHARGES

10. DEFERRED CHARGES:

Deferred charges for the fiscal years ended July 31, 2021 and 2020 consist of the following:

		July 31, 2021						July 31, 2020
		Gross						Gross
		Carrying			Accumulated			Carrying			Accumulated
		Amount			Amortization			Amount			Amortization
Leasing brokerage commissions		$	5,266,672		$	1,579,460		$	4,204,638		$	1,281,010
Professional fees for leasing			127,810			75,779			151,704			88,684
Total		$	5,394,482		$	1,655,239		$	4,356,342		$	1,369,694

The aggregate amortization expense for the periods ended July 31, 2021 and July 31, 2020 were $385,967, and $297,887, respectively.

The weighted average life of current year additions to deferred charges was fourteen years.

The estimated aggregate amortization expense for each of the five succeeding fiscal years is as follows:

Year Ended July 31		Amortization
2022		$427,013
2023		$425,017
2024		$394,396
2025		$352,943
2026		$333,292

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The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets.

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