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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

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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'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 $640,000,6%, 10year instaliment note to the seller. Payments of $7,105 are required at the end of each month over the life of the 10-year loan. Each monthly payment of $7,105 includes both interest expense and principal payments (le, 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" Suzie said. "There's something else I need to tell you. Im expectingl" Prepare the joumal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 456 Record the issuance of the long-term note payable for the purchase of land on November 1, 2025. Note: Enter debits before credits

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