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LONG-TERM DEBT | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
LONG-TERM DEBT | NOTE 7 – LONG-TERM DEBT Long-term debt consists of the following at December 31, 2022 and 2021: Schedule of Long-term Debt
|  | December 31, |
|  | 2022 |  |  | 2021 |
Northwest Farm Credit Services Loan #4 |  | $ | 972,941 |  |  | $ | 1,109,860 |
Northwest Farm Credit Services Loan #5 |  |  | 4,089,713 |  |  |  | 4,425,236 |
Northwest Farm Credit Services Loan |  |  | 2,000,000 |  |  |  | - |
Long-Term Debt, Gross |  |  | 7,062,654 |  |  |  | 5,535,096 |
Debt issuance costs |  |  | (119,237 | ) |  |  | (132,483 | )
Current portion of long-term debt |  |  | (496,970 | ) |  |  | (472,420 | )
Long-Term Debt |  | $ | 6,446,447 |  |  | $ | 4,930,193 |
The Company has three long term debt agreements with Northwest Farm Credit Services (“FCS”) with an aggregate outstanding balance of $7,062,654 and $5,535,096 as of December 31, 2022 and 2021, respectively. The first two outstanding loans require monthly principal and interest payments of $62,067 for the life of the loans, at annual fixed interest rates of 4.75% and 5.21%, and with maturity dates of 2028 and 2032, respectively. The general purposes of these loans were to make capital improvements to the winery and vineyard facilities. The third loan bears interest at Northwest Variable base which was 6.50% at December 31, 2022, with interest due annually and principal at maturity on November 1, 2025. Future minimum principal payments of long-term debt mature as follows for the years ending December 31:
2023 |  | $ | 496,970 |
2024 |  |  | 522,798 |
2025 |  |  | 2,549,971 |
2026 |  |  | 578,559 |
2027 |  |  | 608,636 |
Thereafter |  |  | 2,305,720 |
Future minimum principal payments of long-term debt total |  | $ | 7,062,654 |
The weighted-average interest rates on the aforementioned borrowings for the years ended December 31, 2022 and 2021 was 5.57% and 5.12% respectively.

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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 https://asc.fasb.org/topic&trid=2208564 + Details
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