BROKERAGE AND OTHER RECEIVABLES, NET
|3 Months Ended|
Dec. 31, 2021
|Brokerage and Other Receivables, Net||BROKERAGE AND OTHER RECEIVABLES, NET
Brokerage and other receivables as of December 31, 2021, and March 31, 2021, consisted of:
On December 31, 2021, and March 31, 2021, amounts due from a single related party customer were $156,141 and $8,948, respectively or 52% and 14% respectively, of total brokerage and other receivables, net. Based on historical data, the Company considers receivables due from related parties fully collectible. As of December 31, 2021 and March 31, 2021, using historical and statistical data, the Company recorded an allowance for brokerage receivables in the amounts of $1,836 and $2,036, 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