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Long Term Debt | 12 Months Ended
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Feb. 28, 2019
Notes to Financial Statements |
Long Term Debt | NOTE 9: LONG-TERM DEBT Long-term debt consists of the following:
|  | February 28, |
|  | 2019 |  |  | 2018 |
Note payable, bank, collateralized by land and buildings, payable in monthly installments of principal and interest of $16,358 through January 2024 with an interest rate of 4.15% and a 10-year term. |  |  | 870,531 |  |  |  | 1,026,651 |
Total long-term debt |  |  | 870,531 |  |  |  | 1,026,651 |
Due within one year |  |  | 162,816 |  |  |  | 156,119 |
Due after one year |  | $ | 707,715 |  |  | $ | 870,532 |
Long-term debt is payable as follows:
Fiscal Year ending February 28, |  |  |  |
2020 |  |  |  | 162,816 |
2021 |  |  |  | 169,716 |
2022 |  |  |  | 177,081 |
2023 |  |  |  | 184,677 |
2024 |  |  |  | 176,241 |
|  |  | $ | 870,531 |

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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