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CAPITAL LEASE OBLIGATIONS
9 Months Ended
Jun. 30, 2022
Debt and Capital Leases Disclosure [Abstract]  
Debt and Capital Leases Disclosure [Text Block]

NOTE 5:   CAPITAL LEASE OBLIGATIONS

 

At June 30, 2022, September 30, 2021, and June 30, 2021, capital lease obligations consisted of the following:

 

 

June 30,

2022

 

September 30,

2021

 

June 30,

2021

 

A 2016 Hino truck leased from Donahue Transportation

Services Corp, payable in Monthly installments of

$1,167,including Interest at 4.532% per annum,

through December 2022.

$

6,278

 

$

16,373

 

$

19,662

                 

A 2018 Hino truck leased from Donahue Transportation

Services Corp, payable in monthly installments of

$1,154, including interest at 4.644% per annum,

through August 2024.

$

27,512

 

$

36,762

 

$

39,774

                 

A 2019 Hino truck leased from Donahue Transportation

Services Corp, payable in monthly installments of

$1,162, including interest at 4.181% per annum,

through March 2025.

$

35,490

 

$

44,677

 

$

47,676

                 

A 2019 Hino truck leased from Donahue Transportation

Services Corp, payable in monthly installments of

$1,151, including interest at 4.101% per annum,

through December 2025.

$

42,512

 

$

51,419

 

$

54,328

                 

A 2020 Hino truck leased from Donahue Transportation

Services Corp, payable in monthly installments of

$1,166, including interest at 5.406% per annum,

through May 2027.

$

60,293

 

$

68,164

 

$

70,718

 

$

172,085

 

$

217,395

 

$

232,158

Less current portion

 

(55,139)

 

 

(60,757)

 

 

(60,071)

Total capital lease obligations, net of current portion

$

116,946

 

$

156,638

 

$

172,087

At June 30, 2022, future minimum payments on the capital lease obligations were as follows:

 

For the Twelve Months Ending June 30,

     

2022

 

$

61,967

2023

   

55,612

2024

   

38,736

2025

   

18,038

2026

   

12,826

Thereafter

 

 

 -

Total minimum lease payments

   

187,179

Less amount representing interest

 

 

(15,094)

Present value of lease payments

   

172,085

Less current portion

 

 

(55,139)

Capital lease obligations, net of current portion

 

$

116,946