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RWP9-1 (Static) Great Adventures Continuing Case (GL)
Tony's favorite memories of his childhood were the times he spent with his dad at camp. Tony was daydreaming of those day
he and Suzie jogged along a nature trail and came across a wonderful piece of property for sale. He turned to Suzie and saic
always wanted to start a camp where families could get away and spend some quality time together. If we just had the mone
this would be the perfect place." On November 1, 2025, Great Adventures purchased the land by issuing a $500,000, 6%, 10
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. Eac
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
something else I need to tell you. I'm expecting!"
General
Journal
Requirement
General
Ledger
View transaction list
Trial Balance
General Ledger
Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event

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