{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/310/976/#35-subsequent-measurement","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"310","topic_title":"Receivables","subtopic":"310-976","subtopic_title":"Real Estate—Retail Land","section":{"number":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"310-976-35-1","para":"35-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_2E5D38F9-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">An allowance shall be provided for receivables that are not expected to be collected because of cancellation in subsequent periods. </span></span> <span class=\"sfragment\" id=\"sfr_2E5D3A94-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Historical data shall be evaluated to predict the collection of receivables from current sales. The historical data shall be selected from a representative sample of receivables that reflect the latest available collection data and cover an adequate period of time. </span></span> <span class=\"sfragment\" id=\"sfr_2E5D3BA3-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The receivables in the sample shall be considered uncollectible and the allowance for contract cancellations provided for previously recognized sales shall be appropriately adjusted if payments due are unpaid at the end of the sample period selected for the following delinquency periods. </span></span> <ul class=\"ul simple\" id=\"pgroup_2E5D2E28-6E94-1014-A13F-6E4B94C84136__GUID-E38F4A49-7CC7-45E0-AB39-F88A36D5EFEA\"> <li class=\"li\" id=\"pgroup_2E5D2E28-6E94-1014-A13F-6E4B94C84136__SL6497871-108661\"> <div class=\"p\"> <div class=\"fig figure fignone\" id=\"pgroup_2E5D2E28-6E94-1014-A13F-6E4B94C84136__tbl-d3e22125\"> <img src=\"/asc-img/GUID-69A1C71E-3795-4B1D-88A8-51C808E07D5D-low.gif\" altsource=\"GUID-69A1C71E-3795-4B1D-88A8-51C808E07D5D-low.gif\" alt=\" \" loading=\"lazy\"> <span class=\"sfragment\" id=\"sfr_2E5D416C-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"></span></span> <div class=\"figcaption\">Percent of Contract Price Paid Delinquency Period Less than 25 percent 90 days 25 percent but less than 50 percent 120 days 50 percent and over 150 days\t</div></div> </div> </li> </ul> </div> </div>","snippet":"An allowance shall be provided for receivables that are not expected to be collected because of cancellation in subsequent periods. Historical data shall be evaluated to predict the collection of receivables from current…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f36045375865bab70c7b8a21a40f5efe912332dc5362b0194bd98ed5b8747f8d","downloaded_from":"2026-09-09T23:33:57.812Z","last_downloaded_at":"2026-09-09T23:33:57.812Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478285","source_sha256":"d8b93836f646d7f8d2aa4f6e71bd74c1f0d1a3c00519716a2d13672739ce903c"}},{"citation":"310-976-35-2","para":"35-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_2E5D42B8-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The specified delinquency periods may be extended if the seller's recent experience has been better or if the buyer has accepted, or is willing to accept, personal liability on its debt, provided that the buyer's ability to complete payment on the contract can be determined. </span></span> </div> </div>","snippet":"The specified delinquency periods may be extended if the seller's recent experience has been better or if the buyer has accepted, or is willing to accept, personal liability on its debt, provided that the buyer's ability…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6a2cf0577271ed89184453e96432a760f319140209174309076e7d0a53761609","downloaded_from":"2026-09-09T23:33:57.812Z","last_downloaded_at":"2026-09-09T23:33:57.812Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478285","source_sha256":"d8b93836f646d7f8d2aa4f6e71bd74c1f0d1a3c00519716a2d13672739ce903c"}},{"citation":"310-976-35-3","para":"35-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <a href=\"/updates/asu-2014-09/\" class=\"xref\">Paragraph superseded by Accounting Standards Update No. 2014-09</a>.</div> </div>","snippet":"Paragraph superseded by Accounting Standards Update No. 2014-09.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:215583d3caaa6cb27ecfd9b4be1233807718327878e5220e710adb0601f71933","downloaded_from":"2026-09-09T23:33:57.812Z","last_downloaded_at":"2026-09-09T23:33:57.812Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478285","source_sha256":"d8b93836f646d7f8d2aa4f6e71bd74c1f0d1a3c00519716a2d13672739ce903c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a42f50606958452a3fcc459b3bf26edca12cb95ed8abb047a0424c0728cf6240","downloaded_from":"2026-09-09T23:33:57.812Z","last_downloaded_at":"2026-09-09T23:33:57.812Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478285","source_sha256":"d8b93836f646d7f8d2aa4f6e71bd74c1f0d1a3c00519716a2d13672739ce903c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9374ee7f9ae4edc0a401d7d0ab0e62de44263d63e658abdf35fe06f78a44081c","downloaded_from":"2026-09-09T23:33:57.812Z","last_downloaded_at":"2026-09-09T23:33:57.812Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478285","source_sha256":"d8b93836f646d7f8d2aa4f6e71bd74c1f0d1a3c00519716a2d13672739ce903c"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9374ee7f9ae4edc0a401d7d0ab0e62de44263d63e658abdf35fe06f78a44081c","downloaded_from":"2026-09-09T23:33:57.812Z","last_downloaded_at":"2026-09-09T23:33:57.812Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478285","source_sha256":"d8b93836f646d7f8d2aa4f6e71bd74c1f0d1a3c00519716a2d13672739ce903c"}}