ACCOUNTS PAYABLE ACCRUED EXPENSES

6 Months Ended

Dec. 31, 2021

ACCOUNTS PAYABLE ACCRUED EXPENSES

NOTE 4 - ACCOUNTS PAYABLE & ACCRUED EXPENSES

 NOTE 4 – ACCOUNTS PAYABLE & ACCRUED EXPENSES

As of December 31, 2021 and June 30, 2021, the Company recorded $6,549,000 and $8,363,000 in accounts payable and accrued expenses respectively. Both accounts payable and accrued expenses are treated as current liabilities however the difference is that a formal invoice has been received and entered to record an accounts payable. 

	December 31, 2021		June 30, 2021
Accounts payable	$	1,668,000	$	2,362,000
Accrued expenses		3,885,000		4,819,000
Accrued payroll		312,000		294,000
Accrued taxes		684,000		888,000
	$	6,549,000	$	8,363,000