Cash Surrender Value of Life Insurance

12 Months Ended

Aug. 31, 2020

Cash Surrender Value of Life Insurance.

Cash Surrender Value of Life Insurance

Note 5—Cash Surrender Value of Life Insurance

The Company recognized cash surrender value of a life insurance policy with the following carrier as of August 31, 2020 and 2019:

	2020		2019
John Hancock	$	4,450	$	4,450
Cash surrender value of life insurance policies	$	4,450	$	4,450

The policy is subject to periodic review. The Company currently intends to maintain the policy through the life or retirement of the insured, and records at the premium paid balance.