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

Provide music lessons to students for $$12,500$ cash.

Purchase prepald insurance to protect musical equipment over the next year for $$3,660$ cash.

Purchase musical equipment for $$15,500$cash.

Obtain a loan from a bank by signing a note for $$21,000.$

Record the transactlons. The company uses the following accounts: Cash, Prepald Insurance, Equipment, Notes Payable, and Service

Revenue. $($If no entry is requlred for a transaction$/$event$,$ select $"$No Journal Entry Requlred" in the first account field.$)$

Journal entry worksheet

Provide music lessons to students for $$12,500$ cash.

Nate: Enter debits befare credits.