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RECEIVABLES | 12 Months Ended
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Jun. 28, 2019
Receivables [Abstract] |
RECEIVABLES | NOTE 5: RECEIVABLES Receivables are summarized below:
| June 28, 2019 |  | June 29, 2018
| (In millions)
Accounts receivable | $ | 459 |  |  | $ | 468 |
Less allowances for collection losses | (2 | ) |  | (2 | )
| $ | 457 |  |  | $ | 466 |
We have a receivables sale agreement (“RSA”) with a third-party financial institution that permits us to sell, on a nonrecourse basis, up to $50 million of outstanding receivables at any given time. From time to time, we have sold certain customer receivables under the RSA, which we continue to service and collect on behalf of the third-party financial institution. Receivables sold pursuant to the RSA meet the requirements for sales accounting under Accounting Standards Codification 860, Transfers and Servicing, and accordingly, are derecognized from our Consolidated Balance Sheet at the time of sale. Outstanding accounts receivable sold pursuant to the RSA were not material as of the end of fiscal 2019, 2018 and 2017.

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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- References No definition available. + Details
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