DEFERRED CHARGES

12 Months Ended

Jul. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

DEFERRED CHARGES

11. DEFERRED CHARGES:

Deferred charges for the fiscal years ended July 31, 2019 and 2018 consist of the following:

	July 31, 2019				July 31, 2018
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization
Leasing brokerage commissions	$	3,578,114	$	1,076,694	$	3,035,040	$	1,264,427
Professional fees for leasing		151,704		77,302		193,122		105,018
Total	$	3,729,818	$	1,153,996	$	3,228,162	$	1,369,445

The aggregate amortization expense for the periods ended July 31, 2019 and July 31, 2018 were $295,926, and $296,298, respectively.

The weighted average life of current year additions to deferred charges was twelve years.

The estimated aggregate amortization expense for each of the five succeeding fiscal years is as follows:

Fiscal Year	Amortization
2020		$	291,538
2021		$	297,985
2022		$	270,944
2023		$	257,772
2024		$	235,093