Chamberlain Enterprises Incorporated reported the following receivables in its December 31, 2024, year-end balance sheet: Current assets: Accounts receivable, net of $28,000 in allowance for uncollectible accounts Interest receivable Notes receivable Additional Information: $ 238,000 10,700 300,000 1. The notes receivable account consists of two notes, a $65,000 note and a $235,000 note. The $65,000 note is dated October 31, 2024, with principal and interest payable on October 31, 2025. The $235,000 note is dated June 30, 2024, with principal and 8% interest payable on June 30, 2025. 2. During 2025, sales revenue totaled $1,380,000, $1,300,000 cash was collected from customers, and $26,000 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 $235,000 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 2025 income statement? 2. & 3. What amounts will appear in the 2025 year-end balance sheet for accounts receivable? Calculate the receivables turnover ratio for 2025. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 In addition to sales revenue, what revenue and expense amounts related to receivables will appear in Chamberlain's 2025 income statement? Puit basis. Bad del 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 $235,000 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 2025 income statement? 2. & 3. What amounts will appear in the 2025 year-end balance sheet for accounts receivable? Calculate the receivables turnover ratio for 2025. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 In addition to sales revenue, what revenue and expense amounts related to receivables will appear in Chamberlain's 2025 income statement? Income Statement for 2025 Revenue: Expense: Req 2 and 3> $1,380,000, $1,388,000 cash was collected from customers, and $26,000 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 $235,000 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 2025 income statement? 2. & 3. What amounts will appear in the 2025 year-end balance sheet for accounts receivable? Calculate the receivables turnover ratio for 2025. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 What amounts will appear in the 2025 year-end balance sheet for accounts receivable? Calculate the receivables turnover ratio for 2025. Note: Round your "Receivable turnover ratio" answer to 1 decimal place. 2. Accounts receivable, net 3. Receivable turnover ratio times