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PURCHASE ADVANCES, NET (Tables)
6 Months Ended
Dec. 31, 2019
PURCHASE ADVANCES, NET  
Schedule of purchase advances

 

The Company purchased products and services from third parties during the normal course of business. Purchase advances, net consisted of the following:

 

 

 

 

 

 

 

 

 

 

 

 

    

June 30, 

    

December 31,

    

December 31,

 

 

2019

 

2019

 

2019

Third Party

 

RMB

 

RMB

 

U.S. Dollars

Prepayment for others

 

 

1,592,076

 

 

483,174

 

 

69,342

Allowance for doubtful accounts

 

 

(248,500)

 

 

(296,000)

 

 

(42,480)

Total purchase advances, net

 

¥

1,343,576

 

¥

187,174

 

$

26,862

 

Schedule of movement of allowance for doubtful accounts

 

Movement of allowance for doubtful accounts is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

    

June 30, 

    

December 31,

    

December 31,

 

 

2019

 

2019

 

2019

 

 

RMB

 

RMB

 

U.S. Dollars

Beginning balance

 

¥

452,632

 

¥

248,500

 

$

35,663

Charge to expense

 

 

191,473

 

 

47,500

 

 

6,817

Less: write-off

 

 

(395,605)

 

 

 —

 

 

 —

Ending balance

 

¥

248,500

 

¥

296,000

 

$

42,480