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I downloaded an application on my iPad called StudioMiniXL (http://www.appolicious.com/music/apps/205440-studiomini-xl-recording-studio-fantastocrats). It’s a 7 track (8 track if you include the drum machine) recording studio. It works pretty well considering the quality of the iPad microphone.
Here’s my first attempt titled “Smile Janice”, featuring ukulele, shaker, Indonesian frog, and hand claps.