wifty Enterprises Ltd. sells a specialty part that is used in widescreen televisions and provides the ultimate in screen clarity. To promote sales of its product, Swifty launched a program with some of its smaller customers. In exchange for making Swifty their exclusive supplier, Swifty guarantees these customers to their creditors so that Swifty will assume the customers long-term debt in the event of non-payment to the creditors. In addition to charging for parts, Swifty also charges a fee to customers who take the guarantee program. It bases the fee on the time frame that the guarantee covers, which is typically three years. In the current fiscal year, the fees collected amounted to $30,450 for the three-year coverage period.\ \ Six months before Swiftys fiscal year end, one of its customers, Bridgeport Corp., began to experience financial difficulties and missed two months of mortgage payments. Bridgeports lender then called on Swifty to make the mortgage payments. At its fiscal year end on December 31, 2023, Swifty had recorded a receivable of $15,225 related to the payments made by Swifty on Bridgeports behalf. Bridgeport owes the lender an additional $30,450 at this point. The lender is thinking of putting a lien on Bridgeports assets that were pledged as collateral for the loans. However, the collateral involves rights to the development of new state-of-the-art three-dimensional television technology that is still unproven. Swifty follows ASPE.