4 5 ints Skipped eBook Print References The Eldorado Corporation's controller prepares adjusting entries only at the end of the reporting year. The following adjusting en were prepared on December 31, 2024: Interest expense Interest payable Rent expense Prepaid rent Interest receivable Interest revenue Additional information: Debi 17,820 1. Interest rate 2. Month of rent payment 3. Principal 26,250 936 Credit % 17,820 26,250 1. The company borrowed $396,000 on March 31, 2024. Principal and interest are due on March 31, 2025. This note is the comp only interest-bearing debt. 2. Rent for the year on the company's office space is $52,500. The rent is paid in advance. 3. On October 31, 2024, Eldorado lent money to a customer. The customer signed a note with principal and interest at 4% due in year. Required: 1. What is the interest rate on the company's note payable? 2. The 2024 rent payment was made at the beginning of which month? 3. How much did Eldorado lend its customer on October 31? Note: Do not round your intermediate calculation. 936

The Eldorado Corporation's controller prepares adjusting entries only at the end of the reporting year. The following adjusting were prepared on December 31, 2024: 1. The company borrowed $396,000 on March 31, 2024. Principal and interest are due on March 31,2025 . This note is the con only interest-bearing debt. 2. Rent for the year on the company's office space is $52,500. The rent is paid in advance. 3. On October 31, 2024, Eldorado lent money to a customer. The customer signed a note with principal and interest at 4% due i year. Required: 1. What is the interest rate on the company's note payable? 2. The 2024 rent payment was made at the beginning of which month? 3. How much did Eldorado lend its customer on October 31 ? Note: Do not round your intermediate calculation