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  3. the company borrowed $120,000 on march 31,2024. pr

The company borrowed $120,000 on March 31,2024. Principal and interest are due on March 31,2025....

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Accounting

The company borrowed $120,000 on March 31,2024. Principal and interest are due on March 31,2025. This note is the companys only interest-bearing debt.
Rent for the year on the companys office space is $60,000. The rent is paid in advance.
On October 31,2024, Eldorado lent money to a customer. The customer signed a note with principal and interest at 6% due in one year.
Required:
What is the interest rate on the company's note payable?
The 2024 rent payment was made at the beginning of which month?
How much did Eldorado lend its customer on October 31?

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