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Long Term Debt

12 Months Ended

Feb. 29, 2020

Notes to Financial Statements

Long Term Debt

NOTE 9: LONG-TERM DEBT

Long-term debt consists of the following:

		February 29, 2020				February 28, 2019
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.			707,716				870,531
Total long-term debt			707,716				870,531
Due within one year			169,716				162,816
Due after one year		$	538,000			$	707,715

Long-term debt is payable as follows:

Fiscal Year ending February 28,
2021			169,716
2022			177,081
2023			184,677
2024			176,242
		$	707,716

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- References

No definition available.

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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

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