What was the net value of Learningrx's accounts receivable, after allowance for doubtful accounts, in 2022?
Learningrx Franchise · 2025 FDDAnswer from 2025 FDD Document
planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Springfield, Missouri
January 3, 2024
LearningRx Franchise Corporation Balance Sheets As of September 30, 2023 and 2022
Assets
| 2023 | 2022 | |
|---|---|---|
| Current Assets | ||
| Cash and cash equivalents Accounts receivable, net of allowance of | $ 551,641 | $ 534,941 |
| $23,629 in 2023 and $46,075 in 2022 | 243,535 | 246,972 |
| Prepaid expenses | 1,635 | |
| Deferred income tax asset | 19,663 | 24,158 |
| Total Current Assets | 814,839 | 807,706 |
| Property and Equipment | ||
| Equipment and software, net | 2,432 | 3,289 |
| Net Property and Equipment | 2,432 | 3,289 |
| Other Noncurrent Assets | ||
| Deferred income taxes | 155,827 | 162,723 |
| Right-of-use assets | 220,053 | 289,858 |
| Net Other Noncurrent Assets | 375,880 | 452,581 |
| Total Assets | $ 1,193,151 | $ 1,263,576 |
| Liabilities And Stockhol | lders' Equity | |
| Current Liabilities | ||
| Accounts payable | 5,871 | • |
| Liability for marketing and development funds | 144,019 | 129,692 |
| Deferred franchise fee revenue | 28,000 | |
| Current portion of lease liability | 66,452 | 69,805 |
| Total Current Liabilities | 216,342 | 227,497 |
| Long-term lease liability | 153,601 | 220,053 |
| Total Liabilities | 369,94 |
Source: Item 23 — RECEIPT (FDD pages 54–209)
What This Means (2025 FDD)
According to Learningrx's 2025 Franchise Disclosure Document, the net accounts receivable, after allowance for doubtful accounts, was $246,972 in 2022. This figure represents the amount Learningrx expected to collect from its outstanding invoices and other receivables after deducting an allowance for accounts that may not be collectible.
For a prospective Learningrx franchisee, understanding the accounts receivable is crucial because it reflects the financial health and efficiency of Learningrx in collecting revenue. A higher accounts receivable balance might indicate that Learningrx is having difficulty collecting payments, which could impact its cash flow. The allowance for doubtful accounts shows Learningrx's estimate of potentially uncollectible receivables, providing a more realistic view of its financial position.
It is important to note that these figures are based on Learningrx's financial statements as of September 30, 2022. Franchisees should review these figures in the context of the full financial statements and any related notes to gain a comprehensive understanding of Learningrx's financial condition. Additionally, prospective franchisees may want to inquire about Learningrx's credit policies and collection practices to assess the risk associated with accounts receivable.