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

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Current assets:

Accounts receivable, net of $$34,000$ in allowance for uncollectible

accounts

Interest receivable $12,500$

Notes receivable $360,000$

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Additional Information:

$1.$ The notes receivable account consists of two notes, a $\backslash (\backslash$$ $95,000\backslash )$ note and a $\backslash (\backslash$$ $265,000\backslash )$ note. The $\backslash (\backslash$$ $95,000\backslash )$ note is dated October $31,2024,$ with principal and interest payable on October $31,2025.$ The $\backslash (\backslash$$ $265,000\backslash )$ note is dated June $30,2024,$ with principal and $\backslash (8\backslash \%\backslash )$ interest payable on June $30,2025.$

$2.$ During $2025,$ sales revenue totaled $\backslash (\backslash$$ $1,440,000,\backslash$$ $1,330,000\backslash )$ cash was collected from customers, and $\backslash (\backslash$$ $32,000\backslash )$ 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 $\backslash (10\backslash \%\backslash )$ of year$-$end accounts receivable.

$3.$ On March $31,2025,$ the $\backslash (\backslash$$ $265,000\backslash )$ note receivable was discounted at the Bank of Commerce. The bank's discount rate is $\backslash (10\backslash \%\backslash ).$ 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?

$2.\backslash$& $3.$ What amounts will appear in the $2025$ year$-$end balance sheet for accounts receivable? Calculate the receivables turnover ratio for $2025.$