Avery Died Testate Early in 2014

question 48

Essay

Avery died testate early in 2014.The following transactions occurred relating to Avery's estate.
1.Avery's estate included bonds with a fair (market)value of $120,000.On the date of Avery's death,there was $2,000 of accrued but unpaid interest.Two months after Avery's death,a check arrived in the amount of $3,000,representing the normal semiannual interest payment.
2.Avery's will stated a specific transfer to the Bird Sanctuary in the amount of $10,000.Avery's estate should be adequate to cover all obligations and devises,and the amount is paid.
3.Funeral expenses amounted to $12,500.
4.A bank statement is received from the First National Bank indicating a cash balance of $8,600.This bank account was not known or included on the estate inventory.
5.Probate fees are paid to the court amounting to $900.
Required:
Prepare the journal entries for the listed transactions.Disregard the impact of estate and income taxes.

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Definitions:

Sexuality

The capacity for sexual feelings and their expression, as well as an individual's sexual orientation, preferences, and identity.

Childhood Experiences

Events and influences that occur during childhood, significantly shaping an individual's personality, behavior, and life choices.

Operant Conditioning

A method of learning that involves rewards and punishments for behavior, which influences the likelihood of that behavior's occurrence.

Positive Reinforcement

A method in behaviorism used to increase the likelihood of a desired behavior by following it with the addition of a positive stimulus.