On December 1, 2018, Liang Chemical provides services to a customer for $84,000. In payment for the services, the customer signs a three-year, 10% 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, 2018. 2. Record the interest collected on December 1 for 2019 and 2020, and the adjustment for interest revenue on December 31 for 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.)

Prepare the journal entries for the above transactions. (If no entry is required for a transaction/event, select "No journal er View transaction list Journal entry worksheet 2 3 4 5 6 7 Record the acceptance of the note Note: Enter debits before credits. Date General Journal Debit Credit December 01, 2018 Notes receivable 84,000 Service revenue 84,000 Record entry Clear entry View general journal