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Capital Lease Obligations
12 Months Ended
Sep. 30, 2022
Debt And Capital Leases Disclosure Abstract  
Debt and Capital Leases Disclosure [Text Block]

NOTE 5:  Capital Lease Obligations

 

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

 

2022

 

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.

$

2,837

 

$

16,373

 

 

 

 

 

 

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.

 

24,358

 

 

36,762

 

 

 

 

 

 

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.

 

32,364

 

 

44,677

 

 

 

 

 

 

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.

 

39,482

 

 

51,419

 

 

 

 

 

 

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.

 

57,597

 

 

68,164

 

$

156,638

 

$

217,395

Less current portion

 

(52,256)

 

 

(60,757)

 

 

 

 

 

 

Total capital lease obligations, net of current portion

$

104,382

 

$

156,638

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

 

For the Twelve Months Ending September 30,

 

 

 

2023

 

$

58,468

2024

 

 

53,374

2025

 

 

34,615

2026

 

 

13,992

Thereafter

 

 

9,328

Present value of future minimum payments

 

 

169,777

Less amount representing interest

 

 

(13,139)

 

 

 

156,638

Less current portion of capital lease obligations

 

 

(52,256)

Total capital lease obligations, net of current portion

 

$

104,382