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The Eldorado Corporation's controller prepares adjusting entries only at the end of the reporting year. The following adjusting entries were prepared on December 3 1
The Eldorado Corporation's controller prepares adjusting entries only at the end of the reporting year. The following adjusting entries were prepared on December :
tableDebit,CreditInterest expense,Interest payable,Rent expense,,Prepaid rent,Interest receivable,,Interest revenue,,
The company borrowed $ on March Principal and interest are due on March This note is the company's only interestbearing debt.
Rent for the year on the company's office space is $ The rent is paid in advance.
On October Eldorado lent money to a customer. The customer signed a note with principal and interest at due in one year.
Required:
What is the interest rate on the company's note payable?
The rent payment was made at the beginning of which month?
How much did Eldorado lend its customer on October
Note: Do not round your intermediate calculation.
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