Receivables are claims held against customers and others for money，goods，or services.For financial statement purposes，receivables are classified as either current (short-term)or noncurrent(long-term).Those receivables expected to be collected within a year or the current operating cycle，whichever is longer，are classified as current receivables;all other receivables are classified as noncurrent.Receivables are further classified in the balance sheet as either accounts receivable or notes receivable.Accounts receivable are non-written(oral)promises to pay for goods sold and services sold，are normally collectibles within 30 to 60 days，and are represented by“open accounts”resulting from short-term extensions of credit.Notes receivable are written promises to pay certain money on a specified future date and may arise from sales，financing，or other transactions.Notes may be short term or long term.