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8. On December 1, 2018, Liang Chemical provides services to a customer for $90,000. In payment for the services, the custome signs a three-year, 10%

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8. On December 1, 2018, Liang Chemical provides services to a customer for $90,000. In payment for the services, the custome signs a three-year, 10% note. The face amount is due at the end of the third year, while annual interest is due each Decembe Required: 1. Record the acceptance of the note on December 1, 2018 2. Record the interest collected on December 1 for 2019 and 2020, and the adjustment for interest revenue on December 31 t 2018, 2019, and 2020. 3. Record the cash collection on December 1, 2021. Prepare the journal entries for the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 4 6 Record the acceptance of the note. Note: Enter debits before credits. Date General Journal Debit Credit December 01, 2018 Record entry Clear entry View general journal

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