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general journal,Income statement and balance sheet Tony's favorite memories of his childhood were the times he spent with his dad at camp. Tony was daydreaming

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general journal,Income statement and balance sheet

Tony's favorite memories of his childhood were the times he spent with his dad at camp. Tony was daydreaming of those days a bit as he and Suzie jogged along a nature trail and came across a wonderful piece of property for sale. He turned to Suzie and said, "I've always wanted to start a camp-where families could get away and spend some quality time together. If we just had the money, I know this would be the perfect place." On November 1, 2025, Great Adventures purchased the land by issuing a $520,000,6%,10-year installment note to the seller. Payments of $5,773 are required at the end of each month over the life of the 10-year loan. Each monthly payment of $5,773 includes both interest expense and principal payments (i.e., reduction of the loan amount). Late that night, Tony exclaimed, "We now have land for our new camp; this has to be the best news ever!" Suzie said, "There's something else I need to tell you. I'm expecting!" Prepare a classified balance sheet as of December 31, 2025. Choose the appropriate accounts to complete the company's balance sheet. The unadjusted, or post-closing balances will appear for each account, based on your selection

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