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ADVANCES TO SUPPLIERS, NET

3 Months Ended

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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