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Chapter 5 Homework Saved Help Save & Exit Submit Check my work 9 The Field Detergent Company sold merchandise to the Abel Company on June
Chapter 5 Homework Saved Help Save & Exit Submit Check my work 9 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. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 10 points Required: Calculate the amount at which Field should record the note receivable and corresponding sales revenue on June 30, 2021. (Round your final answers to nearest whole dollar amount.) eBook Table or calculator function: References Future value: n = i = PV Note/Revenue
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