You serve as the executor for the estate of Virginia Troy. Virginias will provides that all remaining

Question:

You serve as the executor for the estate of Virginia Troy. Virginia’s will provides that all remaining assets other than specific items in the will pass to her longtime friend Melanie Matthews. The following transactions occur during October and November 2011:
a. The Troy estate included 100,000 shares of of the Board of Water & Light, valued at $62 per share. On the date of death, there were no outstanding dividends receivable. On October 15, you note that a of $3 per share has been declared, payable on October 25.
b. Included in the specific devises of Virginia’s will was a bequest to the Philadelphia Art Museum in the amount of $150,000.
c. You pay a probate court fee of $3,800 on October 24.
d. On October 29, you pay funeral expenses in the amount of $11,600.
e. On October 28, you receive and pay a bill from the local hospital for costs not covered by Virginia’s insurance in the amount of $37,000. The liability was unknown and not included in your initial estate inventory.
f. On October 29, you receive a check from the Board of Water & Light in the amount of $300,000.
REQUIRED
Prepare journal entries for the listed transactions. You may ignore estate and income taxes.

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