Question 1

Question 2

the questions are different, look at the journal entry.

The following transactions occur for Cardinal Music Academy during the month of October a. Provide music lessons to students for $7,000 cash. b. Purchase prepaid insurance to protect musical equipment over the next year for $3,000 cash. c. Purchase musical equipment for $10,000 cash. d. Obtain a loan from a bank by signing a note for $10,000. Record the transactions. The company uses the following accounts: Cash, Prepaid Insurance, Equipment, Notes Payable, and Service Revenue. View transaction list Journal entry worksheet