BROKERAGE AND OTHER RECEIVABLES, NET
|9 Months Ended|
Dec. 31, 2020
|BROKERAGE AND OTHER RECEIVABLES, NET|
|NOTE 6 - BROKERAGE AND OTHER RECEIVABLES, NET||
NOTE 6 – BROKERAGE AND OTHER RECEIVABLES, NET
Brokerage and other receivables for the periods ended December 31, 2020, and March 31, 2020, consisted of:
On December 31, 2020, and March 31, 2020, amounts due from a single related party customer were $20,810 or 35% and $90,696 or 80%, respectively, of the total balance. Based on experience, the Company considers receivables due from related parties fully collectible. As of December 31, 2020, and March 31, 2020, using historical and statistical data, the Company recorded an allowance for brokerage receivables in the amount of $2,193 and $313, respectively.
The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.
Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef