What is the answer?

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 Novembr 1, 2022, Great Adventures purchased the land by issuing a $400,000,6%,8-year installment note to the seller. Payments of $5,257 are required at the end of each month over the life of the 8 -year loan. Each monthly payment of $5,257 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'm expecting!" They decided right then, if it was a boy, they would name him Venture. Required: 1. Complete the first three rows of an amortization schedule. 2. \& 3. Record the purchase of land with the issuance of a long-term note payable on November 1,2022 , and the first two payments on November 30, 2022, and December 31, 2022, and calculate the remaining balance of the note payable as of December 31,2022 . (If no entry is required for a particular transaction, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the issuance of note payable. Note: Enter debits before credits. Journal entry worksheet Record the monthly payment. Note: Enter debits before credits. Journal entry worksheet Record the monthly payment. Note: Enter debits before credits. 4. The 12 monthly payments in 2023 (following year) will reduce the note's balance by an additional $40,574. How would the remaining balance of the note payable be reported in the balance sheet as of December 31,2022