ACCOUNTS RECEIVABLE, NET

12 Months Ended

Sep. 30, 2024

Credit Loss [Abstract]

ACCOUNTS RECEIVABLE, NET

NOTE 5 — ACCOUNTS RECEIVABLE, NET

Accounts receivable, net, consists of the following:

	September 30, 2024			September 30, 2023
Accounts receivable	$	11,794,623		$	4,615,470
Less: allowance for doubtful accounts		(13,520	)		(13,004	)
Accounts receivable, net	$	11,781,103		$	4,602,466

BON NATURAL LIFE LIMITED AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 5 — ACCOUNTS RECEIVABLE, NET (continued)

The Company’s accounts receivable primarily includes balance due from customers when the Company’s products are sold and delivered to customers. Approximately $5.5 million or 46.7% of the net accounts receivable balance as of September 30, 2024 has been collected as of the date of the Company’s consolidated financial statements are released.

The following table summarizes the Company’s accounts receivable and subsequent collection by aging bucket:

Accounts Receivable by aging bucket	Balance as of September 30, 2024			Subsequent collection		% of subsequent collection
Less than 3 months	$	6,006,578		$	1,820,853		30.3	%
From 4 to 6 months		3,484,009			1,399,339		40.2	%
From 7 to 9 months		2,291,382			2,291,382		100.0	%
From 10 to 12 months		-			-		-	%
Over 1 year		12,654			-		-	%
Total gross accounts receivable		11,794,623			5,511,574		46.7	%
Allowance for doubtful accounts		(13,520	)
Accounts Receivable, net	$	11,781,103		$	5,511,574		46.7	%

Allowance for doubtful accounts movement is as follows:

	September 30, 2024		September 30, 2023
Beginning balance	$	13,004	$	13,337
Additions		-		-
Write-off uncollectible balance		-		-
Foreign currency translation adjustments		516		(334	)
Ending balance	$	13,520	$	13,004