According to Ledgers's 2025 Franchise Disclosure Document, the notes receivable amount in 2022 was presented in two categories: current and non-current. The current notes receivable was $229,901, while the non-current portion was $634,000. Therefore, the total notes receivable amount for Ledgers in 2022 was $863,901.

This figure is important for prospective franchisees as it reflects the amount of money owed to Ledgers by its franchisees or area representatives through financing agreements. These notes receivable typically arise from financed franchise or area representative agreements, with interest rates potentially reaching up to 12%, as detailed in Note 4.

It's worth noting that the financial statements have been restated due to errors in prior periods. Specifically, a note receivable of $752,118 related to a terminated franchise agreement was not properly written off in 2023, impacting the accuracy of previously reported figures. This restatement highlights the importance of due diligence and careful review of Ledgers's financial statements to understand the true financial health of the company.

Prospective franchisees should pay close attention to the nature of these notes receivable, the terms of the financing agreements, and any historical issues with the accuracy of financial reporting. Understanding these factors will help in assessing the financial stability of Ledgers and the potential risks associated with investing in a franchise.