Receivables

3 Months Ended

Oct. 03, 2020

Receivables

Receivables

4. Receivables

The Company’s receivables and allowance for credit losses were as follows:

	October 3,		June 27,
	2020		2020
	(In thousands)
Receivables	$	3,046,058	$	2,993,404
Allowance for Credit Losses		(81,527)		(65,018)

The Company had the following activity in the allowance for credit losses during the first quarter of fiscal 2021:

	October 3,
	2020
	(In thousands)
Balance at June 27, 2020	$	65,018
Effect of adoption of ASU No. 2016-12 (Note 1)		17,205
Credit Loss Provision		1,786
Credit Loss Recoveries		(126)
Write offs		(4,023)
Foreign Currency Effect and Other		1,667
Balance at October 3, 2020	$	81,527