Prepayments and Other Receivables

3 Months Ended

Mar. 31, 2024

Prepayments and Other Receivables [Abstract]

PREPAYMENTS AND OTHER RECEIVABLES

7. PREPAYMENTS AND OTHER RECEIVABLES

Prepayments and other receivables present the amount the Company prepay for deposit payment for leases and utilities, security deposits of certain contracts, advances to employees for ordinary business purpose for the company which might reimburse or return from the employee, VAT deductible and advances for employee’s social security payments such as and so on. The table below set forth the balance of a brief categories as of March 31, 2024 and December 31, 2023.

	March 31, 2024		December 31, 2023
Deposits	$	20,632	$	20,981
Advances to personnel		1,385		1,408
VAT deductible		64,054		51,714
Other receivables		3,207		3,108
		89,278		77,211
Less: allowance for doubtful accounts		-		-
Prepayments and other receivables, net	$	89,278	$	77,211

Management evaluated the recoverable value of these balances periodically accordingly to the Company’s credit policy and allowance for credit loss, if any. For the three months ended March 31, 2024 and 2023, the Company did not report any allowance of the credit loss of prepayment and other receivables.