RWP9-1 (Algo) Great Adventures Continuing Case 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, T'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 $530,000,6%,10-year Installment note to the seller. Payments of $5,884 are required at the end of each month over the life of the 10 -year loan. Each monthly payment of $5,884 includes both interest expense and principal payments (1.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!" Required: 1. Complete the first three rows of an amortzzation 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 $40,294. Record the reclassification of this amount from Notes Payable (long-term) to Notes Payable (current). \begin{tabular}{|c|c|c|c|c|} \hline Date & Cash Paid & Interest Expense & Change in Carrying Value & Carrying Value \\ \hline 11/01/2025 & & & & \\ \hline 11/30/2025 & & & & \\ \hline 12/31/2025 & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|l|l|l|l|} \hline \multicolumn{1}{|c|}{ No } & Date & \multicolumn{1}{|c|}{ General Journal } & Dobit & Credit \\ \hline & 1 & November 30, 2025 & Interest Expense \\ \hline & & Notes Payable \\ \hline & & Cash & & \\ \hline & & & & \\ \hline \end{tabular} Calculate the remaining balance of the note payable as of December 31,2025 . Record the reclassification of long term note. Note: Enter debits before credits