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After the death of Lennie Pope, his will was read. It contained the following provisions:

• $185,000 in cash goes to decedents brother, Ned Pope.
• Residence and other personal property go to his sister, Sue Pope.
• Proceeds from the sale of Ford stock go to uncle, Harwood Pope.
• $340,000 goes into a charitable remainder trust.
• All other estate assets are to be liquidated with the cash going to Victoria Jones.

a. Prepare journal entries for the following transactions that subsequently occur:

(1) Discovered the following assets (at fair value):

Cash	$	29,000
Certificates of deposit		94,000
Dividends receivable		4,500
Life insurance policy		525,000
Residence and personal effects		545,000
Shares of Ford Motor Company		87,000
Shares of Xerox Corporation		94,000

(2) Collected life insurance policy.

(3) Collected dividends of $7,000.

(4) Discovered debts of $86,000.

(5) Conveyed title to the residence to Sue Pope along with the decedents personal effects.

(6) Discovered title to land valued at $30,000.

(7) Discovered additional debts of $52,000. Paid all of the debts totaling $138,000.

(8) Paid funeral expenses of $46,000.

(9) Conveyed cash of $185,000 to Ned Pope.

(10) Sold the shares of Ford for $103,500.

(11) Paid administrative expenses of $31,000.

(12) Made the appropriate payment to Harwood Pope.

b. Prepare a charge and discharge statement

Complete this question by entering your answers in the tabs below. Required A Required B Prepare journal entries for the following transactions that subsequently occur: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record property held by Lennie Pope at death. Note: Enter debits before credits. Transaction General Journal Debit Credit 01 Cash Required A Required B Prepare a charge and discharge statement. ESTATE OF LENNIE POPE Charge and Discharge Statement As to Principal and income I charge myself with: Assets subsequently discovered: $ 0 Total charges I credit myself with: Legacies distributed 0 0 EA 0 Total credits Balance on hand As: Estate principal: $ 0 Estate principal Estate Income: Required A Required B

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