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REVENUE RECOGNITION | 6 Months Ended
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Dec. 31, 2019
REVENUE RECOGNITION |
REVENUE RECOGNITION | NOTE 9 – REVENUE RECOGNITION ​ The Company's revenue recognition accounting policies are described in the notes to consolidated financial statements in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2019. ​ Accounts Receivable Accounts receivable, net is stated net of the allowance for doubtful accounts and customer deductions totaling $35 million and $32 million as of December 31, 2019 and June 30, 2019, respectively. The allowance for doubtful accounts is based upon the evaluation of accounts receivable aging, specific exposures and historical trends. Payment terms are short-term in nature and are generally less than one year. ​ Deferred Revenue Significant changes in deferred revenue during the period are as follows: ​
​ | ​ | ​ | ​
(In millions) |  | December 31, 2019
Balance at June 30, 2019 | ​ | $ | 361
Revenue recognized that was included in the deferred revenue balance at the beginning of the period | ​ |  | (243)
Revenue deferred during the period | ​ |  | 307
Balance at December 31, 2019 | ​ | $ | 425
​ Transaction Price Allocated to the Remaining Performance Obligations At December 31, 2019, the combined estimated revenue expected to be recognized in the next twelve months related to performance obligations for customer loyalty programs, gift with purchase promotions, purchase with purchase promotions and gift card liabilities that are unsatisfied (or partially unsatisfied) is $378 million.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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