The Field Detergent Company sold merchandise to a customer on June 30, 2024. Payment was made in the form of a noninterest-bearing note requiring the customer to pay $85,000 on June 30, 2026. 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, 2024.