Acompany has the following three events in december: 1. december 1 - pay last month's rent (november), $500. 2. december 15 - pay rent for the current month (december), $500. 3. december 31 - pay rent for the following year, $6,000. how much would be recorded as rent expense for the month of december using accrual-basis accounting?

In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?