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REVENUE RECOGNITION (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Liability for Customer Credits

The following table summarizes the activity in the liability for customer credits for the six months ended June 30, 2020 (in thousands):

			Customer Credits
Balance as of December 31, 2019			$	13,764
Credits issued			98,768
Credits redeemed (1)			(59,583)
Breakage revenue recognized			(9,183)
Foreign currency translation			45
Balance as of June 30, 2020			$	43,811

(1)Customer credits can be redeemed through our online marketplaces for goods or services provided by a third-party merchant or for merchandise inventory sold by us. When customer credits are redeemed for goods or services provided by a third-party merchant, service revenue is recognized on a net basis as the difference between the carrying amount of the customer credit liability derecognized and the amount due to the merchant for the related transaction. When customer credits are redeemed for merchandise inventory sold by us, product revenue is recognized on a gross basis equal to the amount of the customer credit liability derecognized. Customer credits are primarily used within one year of issuance.

Schedule of Costs of Obtaining Contracts

Incremental costs to obtain contracts with third-party merchants, such as sales commissions, are deferred and recognized over the expected period of the merchant arrangement, generally from 12 to 18 months. Deferred contract acquisition costs are presented within the following line items of the condensed consolidated balance sheets as of June 30, 2020 and December 31, 2019 (in thousands):

			June 30, 2020						December 31, 2019
Prepaid expenses and other current assets			$	1,847					$	2,501
Other non-current assets			6,079						10,133

Schedule of Expected Credit Losses on Accounts Receivable

The following table summarizes the activity in the allowance for expected credit losses on accounts receivables for the six months ended June 30, 2020 (in thousands):

			Allowance for Expected Credit Losses
Balance as of January 1, 2020			$	3,693
Change in Provision			6,869
Write-offs			(1,247)
Foreign currency translation			147
Balance as of June 30, 2020			$	9,462

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Tabular disclosure of allowance for credit loss on accounts receivable.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447

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+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
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