Exercise $2-10($Static$)$ Adjusting entries; solving for unknowns $[$LO$2-5,2-6]$

The Eldorado Corporation's controller prepares adjusting entries only at the end of the reporting year. The following adjusting entries

were prepared on December $31,2024$:

The company borrowed $$120,000$ on March $31,2024.$ Principal and interest are due on March $31,2025.$ This note is the company's

only interest$-$bearing debt.

Rent for the year on the company's 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 $31?$

Note: Do not round your intermediate calculation.