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2. Al Sooner died on January 15, 20X5. Records disclose the following estate Cash in the bank 5% note receivable, including $50 accrued interest Stocks
2. Al Sooner died on January 15, 20X5. Records disclose the following estate Cash in the bank 5% note receivable, including $50 accrued interest Stocks Dividends declared on stocks 8% mortgage receivable, including $150 accrued interest Real estate - apartment house Household effects Dividends receivable from the Peg Sooner Trust Fund Total inventory of assets $ 7,500 3,050 70,000 250 30,150 400,000 27.250 250.000 $788.200 $ 1,500 Cash receipts Jan 25 20 3,000 Dividends 5% note receivable Interest on 5% note receivable Stocks sold, inventoried at $22,500 8% mortgage sold Interest accrued on mortgage Sale of assets not inventoried Sale of apartment house Total cash receipts 53 20,000 33,000 207 250 395,000 $453.010 28 29 Jan 23 Cash Disbursements: 20 Funeral expenses Decedent's debts Decedent's bequests 31 Payment to son, including all estate income Total cash disbursements $ 2,750 8,000 10,000 20.000 $40.750 Required: Prepare journal entries to record the events in his estate for the period January 15 through January 31, 20X5. Jan 15 Cash principal 7500 5% NR 3000 Accrued int. 50 Stock 70,000 Dir Rec. 80% mort. Rec Accredint 150 400,000 Real estate 2 ago 250 30,000 Household Divi Rec. a 50,000 Estate principal 788.200
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