Review the FASB ASC database to answer the question. Cite relevant code numbers and paragraphs with a short summary.

3. The management of Delinquent Corp. has an outstanding loan obligation with SAA, Inc. As of the balance sheet date, Delinquent has violated a provision in the debt agreement. As a result of the violation, the obligation is callable within the next 6 months. SAA has indicated it will not waive its right to demand repayment of this obligation. Which section in the authoritative guidance explains which principles apply to the classification of obligations that are callable by the creditors?