2. [20 points] Clyde LaDukes estate has the following properties (at fair value):

Cash	45,000
Life insurance receivable	360,000
Investments in stocks and bonds	480,000
Rental property	750,000
Personal property	75,000

1. Rental income of $7,500 is collected.
2. Ordinary repairs costing $1,900 are made to the rental property.
3. Stocks recorded in the estate at $96,000 are sold for $120,000 cash.
4. All debts ($148,000) are paid.
5. Cash of $5,000 is distributed to Winifred LaDuke, an income beneficiary.
6. The proceeds from the life insurance policy are collected and the money is immediately distributed to Helen LaDuke as specified in the decedents will.
7. Funeral expenses of $15,000 are paid.

Prepare journal entries for each of the above transactions and a charge/discharge statement.