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Prepaid Green Coffee
9 Months Ended
Jul. 31, 2017
Prepaid Green Coffee  
Prepaid Green Coffee

NOTE 5 - PREPAID GREEN COFFEE:

 

The balance represents advance payments made by OPTCO to several coffee growing cooperatives for the purchase of green coffee. Interest is charged to the cooperatives for these advances. Interest earned was $29,377 and $30,889 for the nine months ended July 31, 2017 and 2016, respectively. The prepaid coffee balance was $280,254 at July 31, 2017 and $435,577 at October 31, 2016.