The executor of Rose Shield's estate listed the following properties (at fair value): Cash Life insurance receivable Investments in stocks and bonds Rental property Personal property $ 370,000 270,000 170,000 104,000 200,000 Following are the transactions that occup in the months following the decedent's death: (1) Claims of $94,000 are made against the estate for various debts incurred before the decedent's death. (2) Interest of $26,000 is received from bonds held by the estate. Of this amount, $6,000 had been earned prior to death. (3) Ordinary repairs costing $6,500 are made to the rental property. (4) All debts ($94,000) are paid. (5) Stocks recorded in the estate at $23,000 are sold for $33,000 cash. (6) Rental income of $28,000 is collected. Of this amount, $2,500 had been earned prior to the decedent's death. ) Cash of $7,400 is distributed to Jim Arness, an income beneficiary. (8) The proceeds from the life insurance policy are collected and the money is immediately distributed to Amanda Blake as specified in the decedent's will. (9) Funeral expenses of $24,000 are paid. a. Prepare journal entries to record the property held by Ms. Shield's estate and then each of the above transactions that occur in the months following the decedent's death: b. Prepare in proper form a charge and discharge statement. View transaction list x Record property held by Rose Shields at death. 11 > 2 Record liabilities of Rose Shields at death. 3 Record receipt of interest income. 4 Record ordinary repair expenses made to rental property. un Record liabilities and obligations of the decedent. Credit 6 Record the sale of stock. 7 Record receipt of rental income. 8 Record payment made to income beneficiary. Note: = journal entry has been entered View transaction list RX 11 5 Record liabilities and obligations of the decedent. 6 Record the sale of stock. 7 Record receipt of rental income. 8 Record payment made to income beneficiary. 9 Record collection made from life insurance policy. Credit 10 Record payments made of proceeds from life insurance policy. 11 Record cost of decedent's funeral. Note : journal entry has been entered Charge and Discharge Statement As to Principal I charge myself with: Assets subsequently discovered: ok 0 mt $ 0 Total charges I credit myself with: -nces 0 0 Estate principal Estate principal: Estate principal: Estate principal $ 0 As to Income I charge myself with: $ 0 I credit myself with: Balance as to income Balance as to income: $ 0