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Prepaid Green Coffee
6 Months Ended
Apr. 30, 2018
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 $5,657 and $23,389 for the six months ended April 30, 2018 and 2017, respectively and $3,339 and $10,958 for the three months ended April 30, 2018 and 2017, respectively. The prepaid coffee balance was $112,397 at April 30, 2018 and $171,350 at October 31, 2017.