What was the net accounts receivable for Cool Binz as of December 31, 2022?
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 net accounts receivable as of December 31, 2022, was $3,074. The FDD also provides figures for trade receivables, other receivables, and the allowance for credit losses, which are used to calculate the net accounts receivable.
Specifically, the trade receivables were $5,231, other receivables were $432, and the allowance for credit losses was $4,589 as of December 31, 2022. These figures are part of a table presenting financial data for the years 2022, 2023, and 2024, allowing prospective franchisees to compare the company's financial performance over these three years.
Understanding these figures is crucial for potential Cool Binz franchisees as it provides insight into the company's financial health and its ability to manage accounts receivable. A higher net accounts receivable could indicate that Cool Binz is effectively collecting payments, while a lower figure might suggest potential issues with collections or a more conservative approach to extending credit.