Laserfiche WebLink
<br />SBLM ARCHITECTS, P.C. <br />(AN S CORPORATION) <br /> <br />NOTES TO FINANCIAL STATEMENT <br /> <br />DECEMBER 31, 2008 <br /> <br />NOTE 5 - LONG-TERM DEBT <br /> <br />Long-term debt consists of the following: <br /> <br />Description <br /> <br />Interest <br />Rate <br /> <br />Due <br />Date December 31. 2008 <br /> <br />Note payable to bank in monthly <br />Installments of $2,140 including interest, <br />Secured by the assets of the company <br /> <br />7.00% <br /> <br />2012 $ 87.603 <br /> <br />Capital lease obligations (Note 6) <br /> <br />Less: current maturities <br /> <br />4,385 <br />91,988 <br />24.518 <br /> <br />Non-current portion <br /> <br />$ 67.470 <br /> <br />Long-term debt matures as follows: <br /> <br />Fiscal year ending December 31: <br />2009 <br />2010 <br />2011 <br />2012 <br /> <br />Principal payments remaining <br /> <br />$ 24,518 <br />21,588 <br />23,149 <br />22,733 <br /> <br />$ 91.988 <br />