Jerry Taschs will has the following provisions:

$175,000 in cash goes to Thomas Thorne. All shares of Coca-Cola go to Cindy Phillips. Residence goes to Kevin Simmons. All other estate assets are to be liquidated with the resulting cash going to the First ChurchofFreedom,Missouri.

a.Discovered the following assets (at fair value):

Cash$85,000Interest receivable6,500Life insurance policy350,000Residence250,000Shares of Coca-Cola Company55,000Shares of Polaroid Corporation115,000Shares of Ford Motor Company165,000

b.Collected interest of $8,000.

c.Paid funeral expenses of $25,000.

d.Discovered debts of $45,000.

e.Located an additional savings account of $17,000.

f.Conveyed title to the residence to Kevin Simmons.

g.Collected life insurance policy

.h.Discovered additional debts of $65,000. Paid debts totaling $110,000

.i.Conveyed cash of $175,000 to appropriate beneficiary.

j.Sold the shares of Polaroid for $122,000.

k.Paid administrative expenses of $15,000.

Prepare journal entries for the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Transaction 1: Record property held by Jerry Tasch at death.

Transaction 2: Record interest collected

Transaction 3: Record funeral expenses paid

Transaction 4: Record debts discovered

Transaction 5: Record assets subsequently discovered

Transaction 6: Record conveyance of title to the residence to Kevin Simmons.

Transaction 7: Record collection of Life insurance policy.

Transaction 8: Record payments of debts of decedents.

Transaction 9: Record debts discovered

Transaction 10: Record conveyance of cash to Thomas THorne.

Transaction 11: Record sale of shares of Polaroid

Transaction 12: Record administrative expenses.