factual
What does 'notes receivable' consist of for Ledgers, according to Note 4?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
NOTE 4 - NOTES RECEIVABLE
Notes receivable consists of financed area representative and unit franchise agreements. Promissory notes boar interest up to 12%. Amounts due as of December 31 are as follows:
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, Note 4 clarifies what the 'notes receivable' asset account consists of. Specifically, these notes receivable are from financing agreements with area representatives and unit franchisees. These promissory notes accrue interest up to 12%. A prospective franchisee should understand that these notes are assets for Ledgers, representing money owed to them, and are generated through financing arrangements offered to other franchisees.
Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only.
It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.