You serve as the executor for the estate of John Seagull. The following transactions occur during June 2015: a John's estate included a municipal bond with a fair value of $1,000,000. On the date of death, there was $8,800 of accrued but unpaid interest. On June 5, you received a check in the amount of $18,000, representing the normal semiannual interest payment.
b Included in the specific devises of John's will was a bequest to the Atlanta Animal Shelter in the amount of $200,000. You decide that estate assets will be more than adequate to meet all obligations of the estate and to pay all specific devises, and you issue a check for $200,000 to the animal shelter on June 10.
c On June 20, you pay funeral expenses for John, in the amount of $16,400.
d You receive an interest check in the amount of $6,000 from First Atlanta National Bank on June 24 and realize that an unknown investment in a certificate of deposit in the amount of $100,000 was omitted in the original inventory of estate assets, along with $2,400 of accrued interest.
REQUIRED:
Prepare journal entries for the listed transactions. You can ignore estate and income taxes.