Chamberlain Enterprises Inc. reported the following receivables in its December 31, 2016, year-end balance sheet:

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

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, 2016, with principal and interest payable on October 31, 2017. The $200,000 note is dated June 30, 2016, with principal and 6% interest payable on June 30, 2017.

2. During 2017, 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, 2017, the $200,000 note receivable was discounted at the Bank of Commerce. The banks 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 Chamberlains 2017 income statement?

2. What amounts will appear in the 2017 year-end balance sheet for accounts receivable?

3. Calculate the receivables turnover ratio for 2017.