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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
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, 2022, Great Adventures purchased the land by issuing a $530,000, 6%, 10-year Installment note to the seller. Payments of $5,884 are required at the end of each month over the life of the 10-year loan. Each monthly payment of $5,884 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. Answer is not complete. Interest Change in Date Cash Paid Carrying Expense Carrying Value Value 11/01/2022 $ 526,766 11/30/2022 12/31/2022 Retu
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