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Tonys favorite memories of his childhood were the times he spent with his dad at camp. Tony was daydreaming of those days a bit as
Tonys 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, Ive 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, Theres something else I need to tell you. Im expecting!
Unadjusted Income Statement naianse show Unadjusted Income Statement naianse show Late that night, Tony exclaimed, We now have land for our new camp; this has to be the best news ever! Suzie said, Theres something else I need to tell you. Im expecting!
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