Note 5
ACCOUNTS RECEIVABLE
Accounts
receivable consist of the following natures:
| | |
As
of
March 31,
2025 | | |
As
of
September 30,
2024 | |
| | |
(Unaudited) | | |
| |
| Referral fees | |
$ | 4,009 | | |
$ | 4,155 | |
| Management fees | |
| 8,849 | | |
| 8,849 | |
| Less:
allowance for uncollectible receivables | |
| (88 | ) | |
| (88 | ) |
| Total | |
$ | 12,770 | | |
$ | 12,916 | |
The
aging of accounts receivable before allowance for uncollectible receivables is as follows:
| | |
0 – 90 days | | |
90 – 180 days | | |
180 days –
1 year | | |
1
year above | | |
Total | |
| Referral fees | |
| 4,155 | | |
| — | | |
| — | | |
| — | | |
| 4,155 | |
| Management fees | |
| — | | |
| 8,849 | | |
| — | | |
| — | | |
| 8,849 | |
| Balance as of 9/30/2024 | |
$ | 4,155 | | |
$ | 8,849 | | |
$ | — | | |
$ | — | | |
$ | 13,004 | |
| Referral fees | |
| — | | |
| — | | |
| 4,009 | | |
| — | | |
| 4,009 | |
| Management fees | |
| — | | |
| — | | |
| 4,438 | | |
| 4,411 | | |
| 8,849 | |
| Balance as of 3/31/2025 (Unaudited) | |
$ | — | | |
$ | — | | |
$ | 8,447 | | |
$ | 4,411 | | |
$ | 12,858 | |
The
movement of allowance is as follows:
| | |
As
of
March 31,
2025 | | |
As
of
September 30,
2024 | |
| | |
(Unaudited) | | |
| |
| Balance at beginning
of the year | |
$ | 88 | | |
$ | 87,160 | |
| Current year reversal | |
| — | | |
| (2,076 | ) |
| Written-off as uncollectible | |
| — | | |
| (85,000 | ) |
| Changes
due to foreign exchange | |
| — | | |
| 4 | |
| Balance
at end of the year | |
$ | 88 | | |
$ | 88 | |
The
allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing
accounts receivable. The Company determines the allowance based on aging data, historical collection experience, customer specific facts,
and existing economic conditions.
|