OPERATING LEASES (Tables)

12 Months Ended

Jul. 31, 2020

OPERATING LEASES

Schedule of operating lease related assets and liabilities recorded on the balance sheets

The following table presents the operating lease related assets and liabilities recorded on the balance sheets as of July 31, 2020.

	July 31, 2020
Rights of use lease assets	$	3,768,418
Operating lease liabilities, current		750,350
Operating lease liabilities, noncurrent		3,382,889
Total operating lease liabilities	$	4,133,239

Schedule of weighted average remaining lease terms and discount rates for all of operating leases

The weighted average remaining lease terms and discount rates for all of operating leases were as follows as of July 31, 2020:

	July 31, 2020
Remaining lease term and discount rate	$
Weighted average remaining lease term (years)		8.78
Weighted average discount rate		4.90	%

Schedule of maturities of lease liabilities

The following is a schedule of maturities of lease liabilities as of July 31, 2020

2021	$	942,360
2022		667,392
2023		477,151
2024		481,817
2025		396,682
2025 and thereafter		2,169,094
Total lease payments		5,134,496
Less: imputed interest		(1,001,257)
Present value of lease liabilities	$	4,133,239