Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

ACCOUNTS RECEIVABLE

v3.10.0.1
ACCOUNTS RECEIVABLE
12 Months Ended
Sep. 30, 2018
Receivables [Abstract]  
Accounts Receivable [Text Block]
NOTE 3 – ACCOUNTS RECEIVABLE
 
Accounts receivable consisted of the following as of September 30, 2018 and 2017:
 
 
 
As of September 30,
 
 
 
2018
 
 
2017
 
Accounts receivable, gross
 
$
29,131,547
 
 
$
23,078,659
 
Less: allowance for doubtful accounts
 
 
(1,997,310
)
 
 
(1,817,050
)
Accounts receivable, net
 
$
27,134,237
 
 
$
21,261,609
 
 
Bad debt expense recorded by the Company during the years ended September 30, 2018 and 2017 were $286,606 and $160,944
, respectively. Bad debt write-off recorded by the Company during the years ended September 30, 2018 and 2017 were $36,037 and $0, respectively.
 
Changes of allowance for doubtful accounts for the years ended September 30, 2018 and 2017 are as follow:
 
 
 
As of September 30,
 
 
 
2018
 
 
2017
 
Beginning balance
 
$
1,817,050
 
 
$
1,648,178
 
Additional reserve through bad debt expense
 
 
272,783
 
 
 
168,872
 
Bad debt write-off
 
 
(36,037
)
 
 
 
 
Exchange difference
 
 
(56,486
)
 
 
 
Ending balance
 
$
1,997,310
 
 
$
1,817,050