Arthur, the owner and principal broker of an Indiana real estate firm, died. At the time of his death, there was $9,500 in the trust/escrow account. Which of the following statements accurately describes how this money should be handled?
1) The money should be distributed among Arthur's heirs according to his will.
2) The money should be transferred to the state government.
3) The money should be used to pay off any outstanding debts of the real estate firm.
4) The money should be returned to the clients whose funds were held in the trust/escrow account.