cxercise 2-3 Recora transactions (LU2-4) The following transactions occur for Cardinal Music Academy during the month of October 1. Provide music lessons to students for $10,000 cash 2. Purchase prepaid insurance to protect musical equipment over the next year for $3,360 cash. 3. Purchase musical equipment for $13,000 cash 4. Obtain a loan from a bank by signing a note for $16,000 Record the transactions. The company uses the following accounts Cash, Prepaid Insurance, Equipment. Notes Payable, and Service Revenue. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first occount field.) View transaction list Journal entry worksheet Provide music lessons to students for $10,000 cash. Note: Enter debits before credits General Journal Debit Transaction 01 Credit Record entry Clear entry View general journal The following transactions occur for Cardinal Music Academy during the month of October 1. Provide music lessons to students for $10,000 cash 2. Purchase prepaid insurance to protect musical equipment over the next year for $3,360 cash. 3. Purchase musical equipment for $13,000 cash 4. Obtain a loan from a bank by signing a note for $16,000 Record the transactions. The company uses the following accounts: Cash Prepaid Insurance, Equipment, Notes Payable, and Service Revenue. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet