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Loan Payables | 9 Months Ended
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Mar. 31, 2021
Debt Disclosure [Abstract] |
LOAN PAYABLES | NOTE 10 – LOAN PAYABLES As of March 31, 2021, the short-term loan payables consisted of three loans which mature on dates ranging from June 16, 2021 through August 5, 2021 with interest rates ranging from 5.22% to 5.66%. All loans are collateralized by Tianjuyuan’s land use right and building ownership right.
No. |  | Payee |  | Loan period per agreement |  | Interest Rate |  |  | December 31, 2020 |
1 |  | Postal Saving Bank of China - Pinggu Branch |  | June 17, 2020-June 16, 2021 |  |  | 5.66 | % |  |  | 2,289,000 |
2 |  | Beijing Bank - Pinggu Branch |  | June 22, 2020-June 22, 2021 |  |  | 5.22 | % |  |  | 1,526,000 |
3 |  | Postal Saving Bank of China - Pinggu Branch |  | August 6, 2020-August 5, 2021 |  |  | 5.66 | % |  |  | 305,200 |
|  | Total |  |  |  |  |  |  |  | $ | 4,120,200 |
The interest expense from short-term loans was $181,269 and $215,241 for the period ended March 31, 2021 and 2020, 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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