E 6 - 5 LOG - 3 Noninterest- bearing note ; single payment The Field Detergent Company sold merchandise to the Abel Company on June 30 , 2016 . Payment ! made in the form of a noninterest-bearing note requiring Abel to pay $85 , 000 on June 30 , 2018 . A :" 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 rel on June 30 , 2016 . Interest Rates ( 1) Periods ( 17 ) 796 896 996 1096 19 96 1296 .93458 92593 .91743 .90909 .90 090 .892 86 . 87344 . 85734 84168 82645 81 162 79719 7 3 .81630 .79383 . 77218 . 75131 . 73119 79178 . 76290 . 73503 .70843 68:301 65873 $3552 LO . 71289 .68058 64993 .62092 59345 56743