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ADVANCES TO SUPPLIERS, NET | 3 Months Ended
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Sep. 30, 2024
Advances To Suppliers Net |
ADVANCES TO SUPPLIERS, NET | NOTE 6 – ADVANCES TO SUPPLIERS, NET The advances to suppliers, net consisted of the following: SCHEDULE OF ADVANCES TO SUPPLIERS
|  | September 30, 2024 |  |  | June 30, 2024 |
Advances to suppliers |  | $ | 17,042,072 |  |  | $ | 10,132,190 |
Less: allowance for doubtful accounts |  |  | (260,962 | ) |  |  | (111,483 | )
Advance to suppliers, net |  | $ | 16,781,110 |  |  | $ | 10,020,707 |
Advances to suppliers consist of mainly payments to suppliers for raw materials or products that have not been received. Movement of allowance for doubtful accounts is as follows: SCHEDULE OF MOVEMENT OF ALLOWANCE FOR DOUBTFUL ACCOUNTS ON ADVANCES TO SUPPLIERS
|  | September 30, 2024 |  |  | June 30, 2024 |
Beginning balance |  | $ | 111,483 |  |  | $ | 10,167,448 |
Acquisition of subsidiaries |  |  | - |  |  |  | 6,385 |
Charge to allowance |  |  | 142,488 |  |  |  | 102,514 |
Less: disposal of VIEs |  |  | - |  |  |  | (10,325,224 | )
Foreign currency translation adjustments |  |  | 6,991 |  |  |  | 160,360 |
Ending balance |  | $ | 260,962 |  |  | $ | 111,483 |

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