Company: MKDWW
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001641172-25-002610
Chunk: 187

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-03
Form: F-1
Chunk 187
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 other disclosures to provide enhanced transparency into the nature and function of expenses. The FASB further clarified the effective date in January 2025 with the issuance of ASU 2025-01, Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date (“ASU 2025-01”). ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The requirements should be applied on a prospective basis while retrospective application is permitted. The Group does not expect to adopt this guidance early and does not expect the adoption of this ASU to have a material impact on its future consolidated financial statements.

Other accounting standards that have been issued by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. The Company does not discuss recent standards that are not anticipated to have an impact on or are unrelated to its consolidated financial condition, results of operations, cash flows or disclosures.

| F-20 |

MKDWELL TECH INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(In U.S. dollars, except share and per share data)

4. ACCOUNTS AND NOTE RECEIVABLE, NET

Accounts and note receivable, net consisted of the following:

SCHEDULE OF ACCOUNTS RECEIVABLE

|                                 |     | As of December 31, 
 2023               |    2023 |   |     | 2024 |    2024 |   |
|:--------------------------------|:----|:-------------------|--------:|:--|:----|:-----|--------:|:--|
| Accounts and note receivable    |     | $                  | 601,115 |   |     | $    | 686,597 |   |
| Less: allowance for credit loss |     |                    | (39,057 | ) |     |      | (45,819 | ) |
| Total                           |     | $                  | 562,058 |   |     | $    | 640,778 |   |

The Company recorded a credit loss of US$ 179,038, reversed a credit loss of US$ 165,288, and recorded a credit loss of US$ 7,952for the years ended December 31, 2022,