What was the net amount of total current receivables for Checkersrallys after the allowance?
Checkersrallys Franchise · 2025 FDDAnswer from 2025 FDD Document
action. During the year ended January 3, 2022, the Company had no sales of restaurants.
(Tabular Dollars in Thousands, Except Share and per Share Data)
6. Accounts and Notes Receivable
The following table summarizes the Company's receivables and allowances as of January 1, 2024 (Successor) and January 2, 2023 (Predecessor):
| ( | Gross | All | owance | Net | Gross | All | owance | Net |
|---|
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 91)
What This Means (2025 FDD)
According to Checkersrallys's 2025 Franchise Disclosure Document, the net total of current receivables after allowance is detailed in the financial statements. Specifically, the total current receivables were calculated by subtracting an allowance from the gross receivables.
For instance, the gross accounts receivable was $7,913, from which an allowance of $514 was deducted, resulting in a net accounts receivable of $7,399. Similarly, for notes receivable, the net amount is not explicitly stated but implied to be equivalent to the gross amount as the allowance is listed as "-".
Summing the net accounts receivable ($7,399) and notes receivable ($-), the total net current receivables amount to $7,399. This figure represents the amount Checkersrallys expects to collect from its current receivables after accounting for potential uncollectible amounts.