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REVENUE RECOGNITION
 3 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION 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, 2021.

Accounts Receivable
Accounts receivable, net is stated net of the allowance for doubtful accounts and customer deductions totaling $40 million as of September 30, 2021 and June 30, 2021. Payment terms are short-term in nature and are generally less than one year.

Changes in the allowance for credit losses are as follows:
(In millions)September 30
2021
Balance at June 30, 2021$20 
Provision for expected credit losses1 
Balance at September 30, 2021$21 

The remaining balance of the allowance for doubtful accounts of $19 million, as of September 30, 2021, relates to non-credit losses, which are primarily due to customer deductions.

Deferred Revenue
Changes in deferred revenue during the period are as follows:
Three Months Ended
September 30
(In millions)20212020
Deferred revenue, beginning of period$371 $279 
Revenue recognized that was included in the deferred revenue balance at the beginning of the period(170)(90)
Revenue deferred during the period223 216 
Other2 4 
Deferred revenue, end of period$426 $409 

Transaction Price Allocated to the Remaining Performance Obligations
At September 30, 2021, 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 $379 million. The remaining balance of deferred revenue at September 30, 2021 will be recognized beyond the next twelve months.