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

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

a. Provide music lessons to students for $15,000 cash. b. Purchase prepaid insurance to protect musical equipment over the next year for $3,960 cash. c. Purchase musical equipment for $18,000 cash. d. Obtain a loan from a bank by signing a note for $26,000.

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