Long-Term Debt and Notes Payable (Tables)

12 Months Ended

Aug. 31, 2013

Long-Term Debt and Notes Payable

Schedule of long-term debt

	2013			2012
Term note payable to bank in 19 quarterly installments that began in September 2012. The principal amount of the quarterly installments is $1,400 through June 2014, increasing to $1,750 per quarter thereafter through June 2015, and to $2,100 per quarter thereafter through March 2017. Interest is payable monthly at LIBOR rate plus 175 to 225 basis points, based upon the Company's consolidated leverage ratios (effective interest rate of 1.93% at August 31, 2013). Quarterly principal payments will continue through March 2017, and Chase will repay the remaining principal balance plus any interest due on the term note maturity date of June 27, 2017.	$	64,400		$	70,000
		64,400			70,000
Less portion payable within one year classified as current		(5,600	)		(5,600	)
Long-term debt, less current portion	$	58,800		$	64,400