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v3.22.2.2

Accounts Receivable, Net | 6 Months Ended
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Jun. 30, 2022
Accounts Receivable, Net [Abstract] |
ACCOUNTS RECEIVABLE, NET | NOTE 6 – ACCOUNTS RECEIVABLE, NET Accounts receivable consisted of the following:
|  | June 30, 2022 |  |  | December 31, 2021 |
|  | (Unaudited) |  |  |  |
Trade accounts receivable from third-part customers |  | $ | 3,488,093 |  |  | $ | 1,345,755 |
Less: allowances for doubtful accounts |  |  | (709,366 | ) |  |  | (904,052 | )
Total accounts receivable from third-party customers, net |  |  | 2,778,727 |  |  |  | 441,703 |
Add: accounts receivable, net, related parties |  |  | 86,219 |  |  |  | 93,589 |
Accounts receivable, net |  | $ | 2,864,946 |  |  | $ | 535,292 |
Allowance for doubtful accounts movement is as follows:
|  | June 30, 2022 |  |  | December 31, 2021 |
|  | (Unaudited) |  |  |  |
Beginning balance |  | $ | 904,052 |  |  | $ | 6,888,710 |
Bad debt provision |  |  | 11,102 |  |  |  | 1,949,778 |
Write off |  |  | - |  |  |  | (7,722,231 | )
Reduction due to divestitures |  |  |  |  |  |  | (299,544 | )
Recovery |  |  | (167,050 | ) |  |  |  |
Foreign exchange translation |  |  | (38,738 | ) |  |  | 87,339 |
Ending balance |  | $ | 709,366 |  |  | $ | 904,052 |
Below is the aging schedule of accounts receivable as of June 30, 2022 and December 31, 2021:
|  | June 30, 2022 |  |  | December 31, 2021 |
|  | (Unaudited) |  |  |  |
Accounts Receivable Aging: |  |  |  |  |  |
Less than 3 months |  | $ | 2,686,015 |  |  | $ | 294,481 |
From 4 to 6 months |  |  | 114,716 |  |  |  | 197,465 |
From 7 to 9 months |  |  | 17,139 |  |  |  | 28,134 |
From 10 to 12 months |  |  | 89,982 |  |  |  | 107,317 |
Over 1 year |  |  | 666,460 |  |  |  | 811,947 |
Bad debt reserve |  |  | (709,366 | ) |  |  | (904,052 | )
Accounts Receivable, net |  | $ | 2,864,946 |  |  | $ | 535,292 |

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI https://asc.fasb.org/subtopic&trid=2196772 + Details
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- References No definition available. + Details
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