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What is charge and discharge statement for the estate

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Reference no: EM132737923

The executor of Danny Mack's estate has listed the following properties at fair value:

Cash $200,000,

Life Insurance Receivable $500,000,

Investment in Stocks and Bonds $50,000,

Rental Property $100,000, and

Personal Property $80,000.

  • Additionally, the executor found $100,000 of various debts incurred before the decedent's death. The cost of Danny Mack's funeral was $20,000.

Problem 1: What is Charge and Discharge Statement for the estate.

Reference no: EM132737923

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