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ACCOUNTS RECEIVABLE AND CONTRACT ASSETS, NET | 12 Months Ended
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Dec. 31, 2020
Receivables [Abstract] |
ACCOUNTS RECEIVABLE AND CONTRACT ASSETS, NET |
5. | ACCOUNTS RECEIVABLE AND CONTRACT ASSETS, NET
Accounts receivable consists of the following:
|  | As of December 31, |
|  | 2019 |  |  | 2020 |
|  | RMB |  |  | RMB |
Accounts receivable: |  |  |  |  |  |  |  |
Receivables for loan facilitation and post-origination service from borrowers |  |  | 170,898 |  |  |  | — |
Receivables for loan referral service from institutional funding partners |  |  | 28,945 |  |  |  | 109,910 |
Less: allowance for credit losses |  |  | (60,679 | ) |  |  | — |
Total accounts receivable |  |  | 139,164 |  |  |  | 109,910 |
The movement of allowance for uncollectible receivables for the years ended December 31, 2018, 2019 and 2020 are as follows:
|  |  |  |  |  | Year ended December 31, |
|  | 2018 |  |  | 2019 |  |  | 2020 |
|  | RMB |  |  | RMB |  |  | RMB |
Balance at the beginning of the year |  |  | — |  |  |  | 28,014 |  |  |  | 60,679 |
Current year credit losses |  |  | 51,430 |  |  |  | 144,636 |  |  |  | 49,231 |
Current year write off |  |  | (23,416 | ) |  |  | (111,971 | ) |  |  | (109,910 | )
Balance at end of the year |  |  | 28,014 |  |  |  | 60,679 |  |  |  | — |
Contract assets consists of the following:
|  | As of December 31, |
|  | 2019 |  |  | 2020 |
|  | RMB |  |  | RMB |
Contract assets |  |  | — |  |  |  | 48,154 |
Less: Allowance for credit losses |  |  | — |  |  |  | — |
Contract assets, net |  |  | — |  |  |  | 48,154 |

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- Definition The entire disclosure for accounts receivable, contract receivable, receivable held-for-sale, and nontrade receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -URI http://asc.fasb.org/topic&trid=2196771 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -URI http://asc.fasb.org/topic&trid=82887179 + Details
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- References No definition available. + Details
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Data Type: | xbrli:stringItemType
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