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Loan Payables | 12 Months Ended
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Jun. 30, 2023
Loan Payables [Abstract] |
LOAN PAYABLES | NOTE 10 – LOAN PAYABLES As of June 30, 2023, the short-term and long-term loan payables consisted of five loans which mature on dates ranging from September 29, 2023 through August 18, 2024 with interest rates ranging from 3.65% to 5.00%. No. 1 to 3 below are collateralized by Tianjuyuan’s land use right and building ownership right. Loan No. 2 is also guaranteed by the cash deposit. No. 4 to 5 below are collateralized by Jinong’s land use right and building ownership right.
No. |  |  | Payee |  | Loan period per agreement |  |  | Interest Rate |  |  | June 30, 2023 |
1 |  |  | Beijing Bank -Pinggu Branch |  |  | June 5, 2023-June 5, 2024 |  |  |  | 4.15 | % |  |  | 1,378,000 |
2 |  |  | Huaxia Bank -HuaiRou Branch |  |  | June 28, 2023-June 28, 2024 |  |  |  | 3.65 | % |  |  | 1,378,000 |
3 |  |  | Pinggu New Village Bank |  |  | June 29, 2023-June 28, 2024 |  |  |  | 5.00 | % |  |  | 964,600 |
4 |  |  | Industrial Bank Co. Ltd |  |  | August 19, 2022-August 18, 2024 |  |  |  | 3.98 | % |  |  | 1,047,280 |
5 |  |  | Xian Bank |  |  | September 30, 2022-September 29, 2023 |  |  |  | 3.90 | % |  |  | 1,515,800 |
|  |  | Total |  |  |  |  |  |  |  |  |  | $ | 6,283,680 |
The interest expense from short-term loans was $295,804 and $256,784 for the year ended June 30, 2023 and 2022, respectively.

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