After the death of Lennie Pope, his will was read. It contained the following provisions: $160,000 in cash goes to decedent's 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. $400,000 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): $ 24,000 89,000 Cash Certificates of deposit Dividends receivable Life insurance policy Residence and personal effects Shares of Ford Motor Company Shares of Xerox Corporation (2) Collected life insurance policy. (3) Collected dividends of $6,000. (4) Discovered debts of $81,000. 4,000 500,000 520,000 82,000 89,000 (5) Conveyed title to the residence to Sue Pope along with the decedent's personal effects. (6) Discovered title to land valued at $25,000. 7) Discovered additional debts of $47,000. Paid all of the debts totaling $128,000. (8) Paid funeral expenses of $41,000. (9) Conveyed cash of $160,000 to Ned Pope. (10) Sold the shares of Ford for $96,000. (11) Paid administrative expenses of $26,000. (12) Made the appropriate payment to Harwood Pope. b. Prepare a charge and discharge statement. 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: Total charges I credit myself with: Legacies distributed: Total credits Balance on hand As: Estate principal: Cash Certificates of deposit Land Shares of Xerox Estate principal Estate Income: 0 $ 0 0 $ 0 $ 0 < Required A Required B