claims held against customers and others for money, goods, or services. If collection is expected in one year or less (or in the normal operating cycle of the business if longer), they are classified as current assets. If not, they are presented as noncurrent assets. Receivables are further classified in the balance sheet as trade or non-trade. Trade receivables are due from customers for merchandise sold or services performed in the ordinary course of business. Trade receivables may either be accounts receivable or notes receivable. Nontrade receivables come into being from other types of transactions and may he written promises to pay monies or deliver services. Examples are advances to employees, claims against other entities (i.e., tax refunds, insurance receipts), deposits, and financial receivables (i.e., interest receivable, dividend receivable).