RWP9-1 (Algo) Great Adventures Continuing Case Tony's favorite memones of his childhood were the times he spent with his dad at camp. Tony was daydreaming of those days a bit as he and Suzle jogged along a nature trall and came across a wondertul plece of property for sale. He turned to Suzle and sald, "Tve 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 $600,000,6%,9-year Installment note to the seller. Payments of $7,203 are required at the end of each month over the life of the 9 -year loan. Each monthly payment of $7,203 includes both interest expense and principal payments (t.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 everl" Suzle said, "There's something else I need to tell you. Im expectingl" Required: 1. Complete the first three rows of an amortization schedule. 2. Record the purchase of land with the issuance of a long-term note payable on November 1, 2025 3--. Record the first two payments on November 30, 2025, and December 31,2025 3-b. Calculate the remaining balance of the note payable as of December 31,2025 4. The 12 monthly payments in 2026 (following year) will reduce the note's balance by an additional $52,372 Record the reclassification of this amount from Notes Payable (long-term) to Notes Payable (current) Complete this question by entering your answers in the tabs below. Complete the first three rows of an amortization schedule. (Do not round your intermediate calculations. Round final answers to the nearest dollar amount. Late that night, Tony exclaimed, "We now have land for our new camp; this has to be the best news evert" Suzie sal something else I need to tell you. I'm expectingl" Requlred: 1. Complete the first three rows of an amortization schedule. 2. Record the purchase of land with the issuance of a long-term note payable on November 1, 2025 3-a. Record the first two payments on November 30,2025 , and December 31,2025. 3-b. Calculate the remaining balance of the note payable as of December 31,2025 . 4. The 12 monthly payments in 2026 (following year) will reduce the note's balance by an additional $52,372 Record reclassification of this amount from Notes Payable (long-term) to Notes Payable (current). Complete this question by entering your answers in the tabs below. Record the purchase of land with the issuance of a long-term note payable on November 1, 2025. (If no entry is required fo transaction, select "No Joumal Entry Required" in the first account field.) Journal entry worksheet Record the purchase of land with the issuance of a long-term note payable. Puatie Enter debits bofore credits. something else I need to tell you. I'm expectingl" Required: 1. Complete the first three rows of an amortization schedule. 2. Record the purchase of land with the issuance of a long-term note payable on November 1, 2025. 3-a. Record the first two payments on November 30, 2025, and December 31, 2025. 3-b. Calculate the remaining balance of the note payable as of December 31, 2025. 4. The 12 monthly payments in 2026 (following year) will reduce the note's balance by an additional \$52,372. Recor reclassification of this amount from Notes Payable (long-term) to Notes Payable (current). Complete this question by entering your answers in the tabs below. Record the first two payments on November 30, 2025, and December 31 , 2025. (If no entry is required for a particular tr. select "No Journal Entry Required" in the first account field. Do not round your intermediate calculations. Round final answ nearest dollar amount.) Journal entry worksheet RWP9-1 (Algo) Great Adventures Continuing Case Tony's favorite memorles of his childhood were the times he spent with his dad at camp. Tony was daydreaming of those days a bit as he and Suzle jogged along a nature trail and came across a wonderful plece of property for sale. He turned to Suzle and sald, "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 $600,000,6%,9-year installment note to the seller. Payments of $7,203 are required at the end of each month over the life of the 9-year loan, Each monthly payment of $7,203 includes both interest expense and principal payments (te, 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" Suzle said, "There's something else I need to tell you. I'm expectingl" Required: 1. Complete the first three rows of an amortization schedule. 2. Record the purchase of land with the issuance of a long-term note payable on November 1,2025 3-a. Record the first two payments on November 30, 2025, and December 31, 2025 3-b. Calculate the remaining balance of the note payable as of December 31, 2025 4. The 12 monthly payments in 2026 (following year) will reduce the note's balance by an additional $52,372. Record the reciassification of this amount from Notes Payable (long-term) to Notes Payable (current). Complete this question by entering vour answers in the tabs below. Calculate the remaining balance of the note payable as of December 31,2025 . Record the purchase of land with the issuance of a long-term note payable on November 1, 2025. a. Record the first two payments on November 30, 2025, and December 31, 2025 . b. Calculate the remaining balance of the note payable as of December 31, 2025. The 12 monthly payments in 2026 (following year) will reduce the note's balance by an additional $52,372. Record the classification of this amount from Notes Payable (long-term) to Notes Payable (current). Complete this question by entering your answers in the tabs below. The 12 monthly payments in 2026 (following year) will reduce the note's balance by an additional $52,372. Record the reclassificati this amount from Notes Payable (long-term) to Notes Payable (current). (If no entry is required for a particular transaction, select Joumal Entry Required" in the first account field.) Journal entry worksheet