Chamberlain Enterprises Inc. reported the following receivables in its December 31, 2021, year-end balance sheet: Current...

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Chamberlain Enterprises Inc. reported the following receivables in its December 31, 2021, year-end balance sheet: Current assets: Accounts receivable, net of $38,000 in allowance for uncollectible accounts Interest receivable Notes receivable $288,000 11,300 400,000 Additional Information: 1. The notes receivable account consists of two notes, a $70,000 note and a $330,000 note. The $70,000 note is dated October 31, 2021, with principal and interest payable on October 31, 2022. The $330,000 note is dated June 30, 2021, with principal and 6% interest payable on June 30, 2022. 2. During 2022, sales revenue totaled $1,480,000, $1,350,000 cash was collected from customers, and $36,000 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, 2022, the $330,000 note receivable was discounted at the Bank of Commerce. The bank's discount rate is 10%. 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 2022 income statement? 2. & 3. What amounts will appear in the 2022 year-end balance sheet for accounts receivable and Calculate the receivables turnover ratio for 2022. Required: 1. In addition to sales revenue, what revenue and expense amounts related to receivables will appear in Chamberlain's 2022 income statement? 2. & 3. What amounts will appear in the 2022 year-end balance sheet for accounts receivable and Calculate the receivables turnover ratio for 2022. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Not including sales revenue, what revenue and expense amounts related to receivables will appear in Chamberlain's 2022 income statement? Income Statement for 2022 Revenue: Interest revenue Expense: Bad debt expense Loss on sale of notes receivable Req 1 Req 2 and 3 What amounts will appear in the 2022 year-end balance sheet for accounts receivable and Calculate the receivables turnover ratio for 2022. (Round your "Receivable turnover ratio" answer to 1 decimal place.) 2. Accounts receivable, net 3. Receivable turnover ratio times Chamberlain Enterprises Inc. reported the following receivables in its December 31, 2021, year-end balance sheet: Current assets: Accounts receivable, net of $38,000 in allowance for uncollectible accounts Interest receivable Notes receivable $288,000 11,300 400,000 Additional Information: 1. The notes receivable account consists of two notes, a $70,000 note and a $330,000 note. The $70,000 note is dated October 31, 2021, with principal and interest payable on October 31, 2022. The $330,000 note is dated June 30, 2021, with principal and 6% interest payable on June 30, 2022. 2. During 2022, sales revenue totaled $1,480,000, $1,350,000 cash was collected from customers, and $36,000 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, 2022, the $330,000 note receivable was discounted at the Bank of Commerce. The bank's discount rate is 10%. 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 2022 income statement? 2. & 3. What amounts will appear in the 2022 year-end balance sheet for accounts receivable and Calculate the receivables turnover ratio for 2022. Required: 1. In addition to sales revenue, what revenue and expense amounts related to receivables will appear in Chamberlain's 2022 income statement? 2. & 3. What amounts will appear in the 2022 year-end balance sheet for accounts receivable and Calculate the receivables turnover ratio for 2022. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Not including sales revenue, what revenue and expense amounts related to receivables will appear in Chamberlain's 2022 income statement? Income Statement for 2022 Revenue: Interest revenue Expense: Bad debt expense Loss on sale of notes receivable Req 1 Req 2 and 3 What amounts will appear in the 2022 year-end balance sheet for accounts receivable and Calculate the receivables turnover ratio for 2022. (Round your "Receivable turnover ratio" answer to 1 decimal place.) 2. Accounts receivable, net 3. Receivable turnover ratio times