Discussion Post: Principles of Accounting
• On your own words, describe the methods that companies can implement to depreciate plant assets.
• On June 1, 2020, ABC Company signed a $25,000, 120-day, 6% note payable to cover a past due account payable.
o What is the total amount of interest to be paid on this note?
o Prepare ABC Company's general journal entry to record the issuance of the note payable
o Prepare ABC Company's general journal entry to record the payment of the note on September 29, 2020.
• What are the differences between sole proprietorship and corporation?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.