For December 1, 2027 it says the entry is wrong. Cash isnt $87,360, notes receivable isnt $780, interest receivable isnt $8580, and interest revenue isnt $78,000

Problem 5-8A (Algo) Record long-term notes receivable and interest revenue (LO5-7) On December 1, 2024, Liang Chemical provides services to a customer for $78,000. In payment for the services, the customer signs a three-year, 12% note. The face amount is due at the end of the third year, while annual interest is due each December 1. Required: 1. Record the acceptance of the note on December 1, 2024 2. Record the adjusting entry for interest revenue on December 31 for 2024,2025, and 2026, and the collection of annual interest on December 1,2025 and 2026 . 3. Record the cash collection on December 1, 2027. Prepare the journal entries for the above transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)