National Company made sales for both cash and credit to its customers and provided sales and trade discount. The company holds some notes receivable that accrue interest at an appropriate rate, with the principal and total interest due at maturity. One of the note receivable was received on October 

$1,2022,$ and matures on October $1,2023.$

Required

$1.$ Describe the methods for recording accounts receivable with sales discounts.

$2.$ Analyze impact of different methods of recording accounts receivable with sales discount.

$3.$ Examine the effects of trade discounts on sales revenues and accounts receivable. Provide a rationale for your analysis.

$4.$ How should the company disclose the impact of interest$-$bearing notes receivable on its December $31,2022,$ balance sheet and income statement for the year ended December $31,2022?$ Explain the reasoning behind your answer.