Journal entry worksheet Record the issuance of the long-term note payable for the purchase of land on November 1, 2025. Note: Enter debits before credits. Journal entry worksheet The 12 monthly payments in 2026 (following year) will reduce the note's balance by an additional $38,014. Record the reclassification of this amount from long-term notes payable to current notes payable. Note: Enter debits before credits. Journal entry worksheet Record the first monthly payment on the long-term note payable, made on November 30, 2025. Note: Enter debits before credits. Record the second monthly payment on the long-term note payable, made on December 31, 2025. Note: Enter debits before credits. Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits before credits. Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. 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 plece of property for sale. He turned to Suzie and said, T 1 ve always warited to start a camp where families could get away and spend some quality time together. If we just had the money, t know this would be the perfect place: On November 1, 2025, Great Adventures purchased the land by issuing a $500,000,6%, 10-year installment note to the seller. Payments of $5,551 are required at the end of each month over the life of the 10-year loan. Each monthly payment of \$5,551 includes both interest expense and principal payments (f.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 evert" Suzie said, "There's something else I need to tell you. Im expectingr" Prepare the journal entries for transactions. (If no entry is required for a particular transactionvevent, select "No joumal Entry Required" Prepare the journai entries to in the first account fieldi.) Journal entry worksheet \begin{tabular}{l|l|l} \hline & & \\ & & \end{tabular} Record the issuance of the long-term note payable for the purchase of land on November 1, 2025