The executor of Rose Shields estate listed the following properties (at fair value):

Cash	$	320,000
Life insurance receivable		220,000
Investments in stocks and bonds		120,000
Rental property		94,000
Personal property		150,000

Following are the transactions that occur in the months following the decedents death:

(1) Claims of $84,000 are made against the estate for various debts incurred before the decedents death.

(2) Interest of $16,000 is received from bonds held by the estate. Of this amount, $7,000 had been earned prior to death.

(3) Ordinary repairs costing $8,000 are made to the rental property.

(4) All debts ($84,000) are paid.

(5) Stocks recorded in the estate at $18,000 are sold for $23,000 cash.

(6) Rental income of $18,000 is collected. Of this amount, $4,000 had been earned prior to the decedents death.

(7) Cash of $6,400 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 decedents will.

(9) Funeral expenses of $14,000 are paid.

Prepare journal entries to record the property held by Ms. Shields estate and then each of the above transactions that occur in the months following the decedents death:

Prepare in proper form a charge and discharge statement.

1

Record property held by Rose Shields at death.

2

Record liabilities of Rose Shields at death.

3

Record receipt of interest income.

4

Record ordinary repair expenses made to rental property.

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.

10

Record payments made of proceeds from life insurance policy.

11

Record cost of decedent's funeral.