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Advanced Finanl Accounting. please provide an explanation and take note that the decedent lived in a state that treats any shortages in demonstrative legacies as

Advanced Finanl Accounting. please provide an explanation and take note that the decedent lived in a state that treats any shortages in demonstrative legacies as general legacies image text in transcribed
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The terms of a will currently undergoing probate are: "My art collection to my sister Helen." "A gift to my brother David of $25,000 cash" "To my son James, $50,000 from my savings account" "To my Daughter Lila, all of my remaining property". At the time of death, the art collection had been donated to the local art museum, the balance in the savings account was $40,000 and there was additional cash (after payment of funeral expenses and all claims against the estate) of $70,000. (Assume that the decedent lived in a state that treats any shortages in demonstrative legacies as general legacies.) 5. How much would James have received from the estate? $50,000 $40,000? $25,000 $45,000 $30,000 6. How much would Lila have received from the estate? $0 #40,000 $35,000 $45,000 $30,000

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