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PREPAYMENTS AND DEPOSITS
12 Months Ended
Dec. 31, 2022
Prepayments And Deposits  
PREPAYMENTS AND DEPOSITS

7. PREPAYMENTS 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:

 

           
   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)