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Tony's favorite memories of his childhood were the times he spent with his dod at comp. Tony wos doydreaming of those days a bit os

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Tony's favorite memories of his childhood were the times he spent with his dod at comp. Tony wos doydreaming of those days a bit os he and Suzie jogged along a noture troil and come across o wonderful plece of property for sole: He turned to Suzie and said, TVe olwoys wonted to start a camp where fomilies could get owoy ond spend some quslity time sogether. If we just had the money, I know this would be the perfect place," On November 1, 2025, Greot Adventures purchosed the iand by issuing 5$440,000,6%, 9 -year instollment note to the seller. Foyments of $5,283 are required ot the end of eoch month over the life of the 9 -yeor loon. Each monthly poyment of $5,283 includes both interest expense and principal poymente (ie., reduction of the losn omount). Late that night, Tony exclaimed. "We now have land for our new comp; this has to be the best news everi" Suzie said. "There's something else I need to tell you, lim expecting:" Required: 1. Compleve the first three rows of an amortization schedule. 2. Record the purchose of lond with the issuance of a long-term note poyoble on November 1,2025 . 3-a. Record the first two poyments on November 30,2025 , and December 31,2025 . 3.b. Colculste the remoining bolance of the note poyoble os of December 31, 2025. 4. The 12 monthly poyments in 2026 (following year) will recuce the note's bolonce by an odditional $38,406. Record the reciassification of this amount from Notes Poyoble (long-term) to Notes Poysble (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 s38, 406, Record the reclassinication of this amount from Notes Payable (long-term) to Notes. Payable (current). (tir no entry is required for a particular transaction, sefect "No Journal Entry Required in the first account field.) Journal entry worksheet Record the reclassification of long term note. Note: Enker pebly Eofare credits

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