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NOTE RECEIVABLES | 12 Months Ended
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Dec. 31, 2021
NOTE RECEIVABLES |
Note Receivables | NOTE 9 – NOTE RECEIVABLES As of December 31, 2021 and 2020, Note receivables consists of the following:
|  | December 31, 2021 |  |  | December 31, 2020 |
Note receivables |  | $ | 3,798,130 |  |  | $ | 3,097,981 |
Note receivable is related to the short-term loan of $3,798,130 (approximately of RMB 24 million) to a third party with annual interest of 5%, which will be matured on November 4, 2022. As at December 31, 2021 the accrued interest for the loan is $167,626. The accrued interest and principal amount of the loan for the year ended December 31, 2021 and December 31, 2020 are as follow:
|  | December 31, 2021 |  |  | December 31, 2020 |
Principal |  | $ | 3,630,504 |  |  | $ | 3,064,336 |
Accrued interest |  |  | 167,626 |  |  |  | 33,645 |
|  | $ | 3,798,130 |  |  | $ | 3,097,981 |

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- Definition The entire disclosure for premium amounts receivable by an insurance entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 310 -URI http://asc.fasb.org/subtopic&trid=4738109 + Details
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