v3.25.1
ACCOUNTS RECEIVABLE, NET
 12 Months Ended
Dec. 31, 2024
Credit Loss [Abstract]  
ACCOUNTS RECEIVABLE, NET

NOTE 4 – ACCOUNTS RECEIVABLE, NET

 

Accounts receivable, net consists of the following:

 

 

   2024   2023 
   As of December 31, 
   2024   2023 
         
Accounts receivable  $1,743,761   $2,131,371 
Less: allowance for expected credit loss   (383,105)   — 
 Accounts receivable, net  $1,360,656   $2,131,371 

 

 

VS MEDIA HOLDINGS LIMITED AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

(Stated in US Dollars, except for number of shares)

  

The movement of allowances for expected credit loss is as follow:

 

   2024   2023 
   As of December 31, 
   2024   2023 
         
Balance at beginning, January 1,  $—   $(275,000)
Allowance for expected credit losses   (383,105)   — 
Written-off as uncollectible   —    275,000 
Balance at end, December 31,  $(383,105)  $— 

 

For the years ended December 31, 2024 and 2023, the Company has assessed the probable loss and made an allowance for expected credit losses of $383,105 and $0 on accounts receivable, respectively.