7.
PREPAYMENTS AND DEPOSITS
SCHEDULE OF PREPAID EXPENSES AND DEPOSITS
| |
| | | |
| | |
| |
As of December 31, | |
| |
2022 | | |
2021 | |
Receivables from sales distributors | |
$ | 43,596 | | |
$ | 115,379 | |
Deposits to suppliers | |
| 147,504 | | |
| 301,233 | |
Subtotal | |
| 191,100 | | |
| 416,612 | |
Less: Provision for doubtful accounts | |
| - | | |
| (121,095 | ) |
Total | |
$ | 191,100 | | |
$ | 295,517 | |
Movements
of allowance for doubtful accounts are as follows:
SCHEDULE OF CHANGES IN ALLOWANCE FOR DOUBTFUL ACCOUNTS
| |
| | | |
| | |
| |
For the years ended December 31, | |
| |
2022 | | |
2021 | |
Beginning balance | |
$ | 121,095 | | |
$ | - | |
Addition | |
| - | | |
| 121,514 | |
Write off | |
| (120,372 | ) | |
| - | |
Exchange rate effect | |
| (723 | ) | |
| (419 | ) |
Ending balance | |
$ | - | | |
$ | 121,095 | |
AGAPE
ATP CORPORATION
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(Currency
expressed in United States Dollars (“US$”), except for number of shares)
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