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 $30,2024.$

Note: Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

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