Note 6. ADVANCES TO SUPPLIERS
The Company’s advances to suppliers – third parties are
as follows:
| | |
September 30, | | |
June 30, | |
| | |
2023 | | |
2023 | |
| Freight fees (1) | |
$ | 359,416 | | |
$ | 428,032 | |
| Less: allowances for credit losses | |
| (300,000 | ) | |
| (300,000 | ) |
| Advances to suppliers-third parties, net | |
$ | 59,416 | | |
$ | 128,032 | |
| (1) | The advanced freight fee is the
Company’s prepayment made for various shipping costs for shipments from January 1, 2023 to September 30, 2023. The Company
provided an allowance of $300,000 for the year ended June 30, 2022, and there was no change in the fiscal year 2023 and for the three
months ended September 30, 2023. |
|