Flexsteel industries manufactures furniture for the retail, contract, and recreational vehicle furniture markets. The corporation's controller prepares adjusting entries only at the end of the fiscal year. The following adjusting entries were prepored on December 31 . 2021: Additional informous: 1. The company borrowed $50,000 on June 30, 2021. Principal and interest are due on June 30,2022 . This note is the company's only interest-bearing debt. 2. Insurance for the year on the company's office buildings is $150,000. The insurance is paid in advance. 3. On August 31, 2021, Flexsteel lent money to a customer. The customer signed a note with principal and interest at 12% due in one year. Required: What is the interest rate on the company's note payable? The 2021 insurance payment was made at the beginning of which month? How much did Flexsteel lend its customer on August 31? Additional information: 1. The company borrowed $50,000 on June 30,2021 . Principal and interest are due on June 30,2022 . This note is the company's only interest-bearing debt. 2. Insurance for the year on the company's office buildings is $150,000. The insurance is paid in advance. 3. On August 31, 2021, Flexsteel lent money to a customec. The customer signed a note with principal and interest at 12% due in one year. Required: 1. What is the interest rate on the company's note payable? 2. The 2021 insurance payment was made at the beginning of which month? 3. How much did Flexsteel lend its customer on August 31