What was the balance of current expected credit losses for Ledgers as of December 31, 2024?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
nd unit franchise agreements. Promissory notes boar interest up to 12%. Amounts due as of December 31 are as follows:
| 2 | 024 | 2023 | 2022 | |
|---|---|---|---|---|
| Notes receivable - Principal | $ | $ 40,000 |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, the balance of the allowance for credit losses as of December 31, 2024, is not explicitly stated as a discrete figure. However, a table provides some context regarding changes to this allowance.
The table shows that under the 'Allowance for credit losses' line, the 'Adoption of Topic 326' is listed as 42,286. The 'Allowance for credit losses' is listed as (265,439). The balance as of December 31, 2023 is 15,847. Write-offs are listed as (155,847). The balance as of December 31, 2024 is not listed.
Prospective franchisees should seek clarification from Ledgers regarding the exact balance of current expected credit losses as of December 31, 2024, to fully understand the company's financial position and risk management practices.