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The following transactions occur for Cardinal Music Academy during the month of October 1. Provide music lessons to students for $15,000 cash. 2. Purchase prepaid

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The following transactions occur for Cardinal Music Academy during the month of October 1. Provide music lessons to students for $15,000 cash. 2. Purchase prepaid insurance to protect musical equipment over the next year for $3,960 cash. 3. Purchase musical equipment for $18,000 cash. 4. Obtain a loan from a bank by signing a note for $26,000. 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 1 Provide music lessons to students for $15,000 cash. 2 Purchase prepaid insurance to protect musical equipment over the next year for $3,960 cash. Purchase musical equipment for $18,000 cash. Obtain a loan from a bank by signing a note for $26,000. Credit UVUV Wuyiyyu Record the transactions. The company uses the following accounts: Cash, Prepaid Insurance, Equipment, Notes Payable, a 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

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