Is indebtedness of the executor a chargeable as monies in his possession as executor?

It is the conclusion of this court that for the purposes of accounting, the indebtedness of the executor is chargeable as monies in his possession as executor, pursuant to section 203 of the Surrogate's Court Act, see also In re Matheron's Will, 207 Misc. 1061, 141 N.Y.S.2d 199, 205, and that his inability to pay such indebtedness is immaterial in this respect. The decree, however, which charges the executor with the amount of his debt as monies received by him for the purpose of administration, should state such charge separately, so as to protect him against consequences not intended by section 203 of the Surrogate's Court Act. See Baucus v. Stover, supra, 89 N.Y. at page 4.