Business
Business, 31.05.2021 21:10, mari8493

The following transactions occur for Cardinal Music Academy during the month of October: Provide music lessons to students for $7,500 cash. Purchase prepaid insurance to protect musical equipment over the next year for $3,060 cash. Purchase musical equipment for $10,500 cash. Obtain a loan from a bank by signing a note for $11,000. Record the transactions. The company uses the following accounts:
Cash, Prepaid Insurance, Equipment, Notes Payable, and Service Revenue.

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

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