On July $1,2019,$ the Morgan County School District received a $$66,000$ gift from a local civic organization with the stipulation that, on

June $30$ of each year, $$5,100$ plus any interest earnings on the unspent principal be awarded as a college scholarship to the high

school graduate with the highest academic average. A private$-$purpose trust fund, the Civic Scholarship Fund, was created.

On July $1,2019,$ the gift was received and immediately invested.

On June $30,2020,$$$5,100$ of the principal was converted into cash. In addition, $$4,100$ of interest was received.

On June $30,$ the $$9,200$ was awarded to a student who had maintained a $4\mathrm{.}0$ grade point average throughout each of her four

years.

The nominal accounts were closed.

Required:

a$.$ Record the above transactions on the books of the Civic Scholarship Fund.

b$.$ Prepare a Statement of Changes in Fiduciary Net Position for the Civic Scholarship Fund for the year ended June $30,2020.$

Complete this question by entering your answers in the tabs below.

Record the above transactions on the books of the Civic Scholarship Fund. $($If no entry is required for a transaction$/$event$,$ select $"$No

Journal Entry Required" in the first account field.$)$

Journal entry worksheet

On July $1,2019,$ the gift was received and immediately invested. Record the

entry for receipt of the cash gift.

Note: Enter debits before credits.