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Loan Payables | 9 Months Ended
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Mar. 31, 2020
Debt Disclosure [Abstract] |
LOAN PAYABLES | NOTE 9 – LOAN PAYABLES As of March 31, 2020, the short-term loan payables consisted of three loans which mature on dates ranging from June 2, 2020 through June 27, 2020 with interest rates ranging from 5.22% to 6.31%. All loans are collateralized by Tianjuyuan's land use right and building ownership right.
No. |  | Payee |  | Loan period per agreement |  | Interest Rate |  |  | March 31, 2018 |
1 |  | Postal Saving Bank of China - Pinggu Branch |  | June 3, 2019-June 2, 2020 |  |  | 6.31 | % |  |  | 2,822,000 |
2 |  | Beijing Bank - Pinggu Branch |  | June 28, 2019-June 27, 2020 |  |  | 5.22 | % |  |  | 705,500 |
3 |  | Beijing Bank - Pinggu Branch |  | August 14, 2019-June 27, 2020 |  |  | 5.22 | % |  |  | 282,200 |
|  | Total |  |  |  |  |  |  |  | $ | 3,809,700 |
The interest expense from short-term loans was $215,241 and $250,127 for the Nine Months ended March 31, 2020 and 2019 respectively.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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