On September 30, 2022, Midnights Inc. sold merchandise for $1,500 on credit terms 3/10, n/30. Midnights accounts for sales discounts using the gross method. If the customer pays the balance in full on October 8, 2022, Midnights' entry to record the payment would include a

		Debit to Sales Discount for $30.
		Credit to Accounts Receivable for $1,470.
		Debit to Sales Discount for $45.
		Credit to Accounts Receivable for $1,455.

Accounts receivable are valued based on their ________.

		estimated amount collectible
		lower-of-cost-or-market value
		fair value
		historical cost

Notes Receivable provide all of the following EXCEPT:

		Certainty of collection
		Extended payment terms
		A formal basis for charging interest
		Negotiability