What was the amount of Cool Binz's 'other' receivables as of December 31, 2023?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
| December 31, | 2024 | 2023 | 2022 |
|---|---|---|---|
| Trade receivables | $2,627 | $2,880 | $5,231 |
| Other | 979 | 431 | 432 |
| Less: allowance for credit losses | 878 | 973 | 4,589 |
| Net Accounts Receivable | $2,728 | $2,338 | $3,074 |
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the 'other' receivables as of December 31, 2023, were $431. This figure is part of a table presenting the company's receivables, which also includes trade receivables and an allowance for credit losses. The net accounts receivable, after accounting for these factors, was $2,338 as of the same date.
For a prospective Cool Binz franchisee, understanding the composition of these receivables is important. 'Trade receivables' typically represent money owed to Cool Binz by its customers for services already provided. 'Other' receivables could include various items such as amounts due from employees, insurance claims, or other miscellaneous sources. The 'allowance for credit losses' is an estimate of the amount of receivables that Cool Binz does not expect to collect.
Monitoring these figures can provide insights into the financial health and operational efficiency of Cool Binz. A significant increase in 'other' receivables might warrant further investigation to understand the underlying reasons and potential risks. Similarly, changes in the allowance for credit losses could indicate shifts in the creditworthiness of Cool Binz's customer base or the effectiveness of its collection efforts. Franchisees may want to inquire about the nature of 'other' receivables to better understand the company's financial reporting practices.