I am hoping this is going to relate to you being new to the program rather than a serious program matter.
I am basing my optimism on your statement "When we added the media, we can see the video and hear the audio, but the audio isn't on a separate track in the timeline".
What version of Premiere Elements are you using and what computer operating system is involved?
For now I will assume Premiere Elements 11, 12/12.1, or 13/13.1 on Windows 7, 8, or 8.1 64 bit.
In what specific workspace of the project are you? Are you in the Expert or Quick workspace.
The Quick workspace does not have a dedicated numbered audio track.
If you are in the Quick workspace and its Filmstrip, then please go to the Expert workspace with its Timeline numbered video tracks, numbered audio tracks, Narration Track, and Soundtrack.
If this is not the problem, then we can move on to other factors related to the issue.
Thank you, A.T. That's what it was. It's been yeeeeeeeears since I've used Premiere.
That is great news. Thanks for letting me be of assistance.
Please never hesitate to ask if you have questions or need clarification related to your Premiere Elements workflows.