Chamberlain Enterprises Inc. reported the following receivables in its December 31, 2024, year-end balance sheet:

Additional Information:
1. The notes receivable account consists of two notes, a $60,000 note and a $200,000 note. The $60,000 note is dated October 31, 2024, with principal and interest payable on October 31, 2025. The $200,000 note is dated June 30, 2024, with principal and 6% interest payable on June 30, 2025.
2. During 2025, sales revenue totaled $1,340,000, $1,280,000 cash was collected from customers, and $22,000 in accounts receivable were written off. All sales are made on a credit basis. Bad debt expense is recorded at year-end by adjusting the allowance account to an amount equal to 10% of year-end accounts receivable.
3. On March 31, 2025, the $200,000 note receivable was discounted at the Bank of Commerce. The bank’s discount rate is 8%. Chamberlain accounts for the discounting as a sale.

Required:
1. In addition to sales revenue, what revenue and expense amounts related to receivables will appear in Chamberlain’s 2025 income statement?
2. What amounts will appear in the 2025 year-end balance sheet for accounts receivable?
3. Calculate the receivables turnover ratio for 2025.

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Current assets: Accounts receivable, net of $24,000 in allowance for uncollectible accounts Interest receivable Notes receivable $218,000 6,800 260,000