Business, 02.12.2021 01:20 bloop3r

The Field Detergent Company sold merchandise to the Abel Company on June 30, 2021. Payment was made in the form of a noninterest-bearing note requiring Abel to pay $85,000 on June 30, 2023. Assume that a 10% interest rate properly reflects the time value of money in this situation. Required:
Calculate the amount at which Field should record the note receivable and corresponding sales revenue on June 30, 2021.

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The Field Detergent Company sold merchandise to the Abel Company on June 30, 2021. Payment was made...

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