BROKERAGE AND OTHER RECEIVABLES, NET
|12 Months Ended|
Mar. 31, 2021
|BROKERAGE AND OTHER RECEIVABLES, NET|
|NOTE 6 - BROKERAGE AND OTHER RECEIVABLES, NET||
NOTE 6 - BROKERAGE AND OTHER RECEIVABLES, NET
Brokerage and other receivables, net of the Company are comprised of the following:
On March 31, 2021 and 2020, amounts due from a single related party customer were $8,948 and $90,696, respectively or 14% and 80% respectively, of total brokerage and other receivables, net. Based on historical data, the Company considers receivables due from related parties fully collectible. As of March 31, 2021 and 2020, using historical and statistical data, the Company recorded an allowance for brokerage receivables in the amounts of $2,036 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