DEPOSITS PAID, NET

12 Months Ended

Dec. 31, 2023

Deposits Paid Net

DEPOSITS PAID, NET

NOTE 5 – DEPOSITS PAID, NET

Deposits paid consisted of the following as of December 31, 2023 and 2022:

	2023			2022
Deposits paid (including $1,597,060 and $1,628,511 to related parties as of December 31, 2023 and 2022, respectively)	$	2,312,622		$	2,365,652
Less: Allowance for doubtful accounts (including $1,060,610 and $870,066 to related parties as of December 31, 2023 and 2022, respectively)		(1,694,166	)		(1,244,350	)
Deposits paid, net	$	618,456		$	1,121,302

Allowance for doubtful accounts movement is as follows:

	2023			2022
Beginning balance	$	1,244,350		$	-
Additions to allowance		484,800			1,280,681
Foreign currency translation adjustment		(34,984	)		(36,331	)
Ending balance	$	1,694,166		$	1,244,350