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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Aug. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
Deferred Revenue by Segment and Changes in Unearned Revenue
Deferred revenues by segment is as follows:

  
August 31, 2019
  
August 31, 2018
 
Wholesale water and wastewater services
 
$
—
  
$
—
 
Land development activities
  
3,991,535
   
361,050
 
Oil and gas leases
  
1,067,348
   
116,111
 
Balance, end of period
 
$
5,058,883
  
$
477,161
 

Changes in unearned revenue were as follows:
  
August 31, 2019
  
August 31, 2018
 
Balance, beginning of period
 
$
477,161
  
$
1,055,488
 
Cumulative effect of adoption of ASU 2014-09
  
—
   
(1,055,488
)
Billings
  
24,943,231
   
2,667,200
 
Contract revenues recognized
  
(20,361,509
)
  
(2,190,039
)
Balance, end of period
 
$
5,058,883
  
$
477,161