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 $$500,000,6\%,10-$year installment note to the seller. Payments of $$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 $($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$\text{'}$m expecting!"

$\backslash$table$[[$Requirement$,\backslash$table$[[$General$],[$Journal$]],\backslash$table$[[$General$],[$Ledger$]],$Trial Balance,$\backslash$table$[[$Income$],[$Statement$]],$Balance Sheet$]]$

Prepare the journal 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

Record the issuance of the long$-$term note payable for the purchase of land on November $1,2025.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$November $01,$No Journal Entry Required,,$],[,,,],[,,,]]$