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

a. Provide music lessons to students for $14,500 cash. b. Purchase prepaid insurance to protect musical equipment over the next year for $3,900 cash. c. Purchase musical equipment for $17,500 cash. d. Obtain a loan from a bank by signing a note for $25,000.

Record the transactions. The company uses the following accounts: Cash, Prepaid Insurance, Equipment, Notes Payable, and Service Revenue.

Do a journal entry worksheet for each transaction (from a to d).

The following transactions occur for Cardinal Music Academy during the month of October: a. Provide music lessons to students for $14,500 cash. b. Purchase prepaid insurance to protect musical equipment over the next year for $3,900 cash. c. Purchase musical equipment for $17,500 cash. d. Obtain a loan from a bank by signing a note for $25,000. Record the transactions. The company uses the following accounts: Cash, Prepaid Insurance, Equipment, Notes Payable, and Service Revenue. View transaction list Journal entry worksheet Provide music lessons to students for $14,500 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal