7C. Part 2. Pension Trust Fund Transactions The City of Monroe Police Department pension plan, a single-employer, defined-benefit plan, reported the following account balances as of January 1, 2020:

	Debits			Credits
Cash	$	152,000
Accrued Interest Receivable		75,000
Investments: Bonds		5,300,000
Investments: Common Stock		2,790,000
Accounts Payable				$	42,000
Net position Held in Trust for Employee Benefits					8,275,000
Totals	$	8,317,000		$	8,317,000

Required:

c. Prepare and post an entry closing all nominal accounts to Net position.