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

ACCOUNTS RECEIVABLE

v3.20.4
ACCOUNTS RECEIVABLE
12 Months Ended
Sep. 30, 2020
ACCOUNTS RECEIVABLE  
ACCOUNTS RECEIVABLE

NOTE 3 – ACCOUNTS RECEIVABLE

Accounts receivable consisted of the following as of September 30, 2020 and 2019:

 

 

 

 

 

 

 

 

 

 

As of September 30,

 

    

2020

    

2019

Accounts receivable, gross

 

$

33,413,662

 

$

27,034,192

Less: allowance for doubtful accounts

 

 

(2,020,373)

 

 

(1,919,152)

Accounts receivable, net

 

$

31,393,289

 

$

25,115,040

 

There were no bad debt expense and bad debt write-off recorded by the Company during the years ended September 30, 2020 and 2019.

As of September 30, 2020, the Company pledged accounts receivable of $1,829,454 to secure banking facilities granted to the Company.

Changes of allowance for doubtful accounts for the years ended September 30, 2020 and 2019 are as follow:

 

 

 

 

 

 

 

 

 

 

As of September 30, 

 

    

2020

    

2019

Beginning balance

 

$

1,919,152

 

$

1,997,310

Exchange difference

 

 

101,221

 

 

(78,158)

Ending balance

 

$

2,020,373

 

$

1,919,152