Long Term Debt

6 Months Ended

Aug. 31, 2016

Notes to Financial Statements

Long Term Debt

NOTE 8: LONG TERM DEBT

Long-term debt consists of the following:

	August 31,		February 29,
	2016		2016
Note payable, bank, collateralized by land and buildings, payable in monthly installments of principal and interest of $16,358 through January 2024.  Interest rate 4.15%.  10 year term.		1,248,650		1,319,737
Total long term debt		1,248,650		1,319,737
Due within one year		137,642		143,388
Due after one year	$	1,111,008	$	1,176,349