The following transactions occur for Cardinal Music Academy during the month of October:

1. Provide music lessons to students for $8,000 cash.

2. Purchase prepaid insurance to protect musical equipment over the next year for $3,120 cash.

3. Purchase musical equipment for $11,000 cash.

4. Obtain a loan from a bank by signing a note for $12,000.

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.)