Business, 22.07.2021 17:50 janae789

At the start of 2020, a resident of the City of LaVerada donated $2.5 million to the LaVerada School District. The donor specified that the entire $2.5 million be invested, and investment income used to provide tutoringservices for high school students. Investments were made, and 2020 investment income was $100,000. Administrative costs related to investing activities were $2,000. The school district started a tutoring program, and spent $15,000 for supplies, $25,000 for facilities rent, and $35,000 for tutoring. The investments are worth $2,580,000 at the end of 2020. Required
The drop down options are as follows: Cash-principal, Fund balance-nonspendable, Investments-principal, Cash-income, Investment income, Investments-income, Expenditures, Unrealized gain on investment, Unrealized loss on investment.
Record the events described above in a permanent fund. Include closing entries.

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At the start of 2020, a resident of the City of LaVerada donated $2.5 million to the LaVerada School...

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