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2008-12-13_170839_P7-10

2008-12-13_170839_P7-10 - P7-10(a Connecticut Inc Long-Term...

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P7-10) (a) Connecticut Inc. Long-Term Receivables Section of Balance Sheet December 31, 2002 9% note receivable from sale of division, due in annual installments of $600,000 to May 1, 2004, less current installment $600,000 (1) 8% note receivable from officer, due Dec. 31, 2004, collateralized by 10,000 shares of Connecticut, Inc., common stock with a fair value of $450,000 400,000 Noninterest-bearing note from sale of patent, net of 12% imputed interest, due April 1, 2004 173,746 (2) Installment contract receivable, due in annual installments of $45,125 to July 1, 2006, less current installment 110,275 (3) Total long-term receivables $1,284,021 (b) Connecticut Inc. Selected Balance Sheet Balances December 31, 2002 Current portion of long-term receivables: Note receivable from sale of division $600,000 (1) Installment contract receivable 29,725 (3) Total current portion of long-term receivables $629,725 Accrued interest receivable: Note receivable from sale of division 72,000 (4) Installment contract receivable 7,700 (5) Total accrued interest receivable $79,700 (c) Connecticut Inc.
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