3. Accounting for a Permanent Fund Scenario: Mr. Pedro Donante donated the sum of$200,000 to the city of Loma Vista for the maintenanceof apublic park. He established by legal document that the principal be invested, but it could never be spent Only the profits can be spent. The city established a permanent fund. Proceeds will be transferred to a Special Revenue Fund. a to. Record cash received by the donor b. The$2,00,000 invested in securities. b. The$2,00,000 invested in securities. c. During the year, $6,000of income earned on investment was received