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1. Prepare the journal entries to record the transactions and close the accounts. 2. Prepare a Charge and Discharge Statement for both principal and income.
1. Prepare the journal entries to record the transactions and close the accounts. 2. Prepare a Charge and Discharge Statement for both principal and income. In accordance with the Will, the executor accrued the interest and dividends on the estate investments to June 30, Year 2. (Note: There is a balance remaining in both principal and income at June 30, Year 2.)
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