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Time left 2.01:59 COVID Co's senior accountant prepares adjusting entries only at the end of the fiscal year. The following adjusting entries were prepared on December 31, 2021: Debit Credit Interest expense 1,800 Interest payable 1,800 Insurance expense 60,000 Prepaid insurance 60,000 Interest receivable 3.000 Interest revenue 3.000 Additional information: 1. The company borrowed $30,000 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 $90,000. The insurance is paid in advance. 3. On August 31, 2021, the company lent money to a customer. The customer signed a note with principal and interest at 9% due in one year. Additional information: 1. The company borrowed $30,000 on June 30, 2021. Principal and interest are due on June 30, 2022. This note is the company's only interest-bearin 2. Insurance for the year on the company's office buildings is $90,000. The insurance is paid in advance. 3. On August 31, 2021, the company lent money to a customer. The customer signed a note with principal and interest at 9% due in one year. Required: (SHOW YOUR WORKING. You have the option to upload your answer/working for this question via the provided link/button) Determine the following: 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 the company lend its customer on August 31? Paragraph