When Chet died on March 12 of the current year, he owned $900,000 in stock of ABC Corporation and $100,000 in City of Omaha bonds.The ABC Corporation declared a cash dividend on March 1 that was payable to shareholders of record on March 15. In early April, the executor of Chet’s estate received the following:

ABC Corporation dividend of $6,000 and interest of $3,200 ($200 accrued since March 12) on the City of Omaha bonds.

AppendixLO1