Rusty Nail Died in the Summer of 2014

question 8

Essay

Rusty Nail died in the summer of 2014.The following transactions occurred relating to Rusty's estate.
1.Rusty's estate included a $50,000 Certificate of Deposit.When Rusty died,there was $250 accrued but unpaid interest.When the check was received for the normal semiannual interest payment,it was in the amount of $1,250.
2.Rusty's will requested a specific transfer to the local playhouse in the amount of $20,000.Avery's estate should be adequate to cover all obligations and devises,and the amount is paid.
3.A fee for probate court is paid amounting to $1,400.
4.Funeral expenses are paid amounting to $13,000.
5.A bill is received from the anesthesiologist relating to Rusty's last hospital stay for $22,000.The bill is not covered by insurance,and was not included in the estate inventory.The bill is verified and paid.
Required:
Prepare the journal entries for the listed transactions.Disregard the impact of estate and income taxes.

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Definitions:

Genuineness

The quality of being authentic, sincere, and honest in one's feelings and actions.

Modeling

The process of learning behaviors by observing and imitating others.

Client-centered

A psychological approach focusing on the individual's self-perception to promote mental health and personal growth.

Psychodynamic Therapy

A therapeutic approach aiming to explore the psychological forces that underlie human behavior, feelings, and emotions, often focusing on the impact of the unconscious.