At the start of 2020 a resident of the City of Laverada donated 52.5 million to the Laverda School District. The donor pecified that the entire $2.5 million be invested, and investment income to provide tutoring services for high school students westments were made, and 2020 investment income was $100.000. Administrative casts related to investing activities were $2,000 The school district started a tutoring prowam and spent 515,000 for supplies, 325.000 for facilities rent and 335.000 for tutors. The investments are worth $2,680.000 at the end of 2020 Required Record the events described above in a permanent fund. Include closing entries Description Debut Credit Cashop . 2.500.000 und balance nonspendable 0 2,500,000 To record doration Investments principal 2.500.000 0 Cash principal 2500 000 The condvestment scholarship fund Cash income 100,000 Investment income O 100,000 To record eamine on westments Expenditures 2000 O Cash income To record adminst expenses charred to come Investments principal 25,000 Cash income 0 75 000 To record expenditures for tutoring WII UCO 0 Investments principal O Unreind gan investments 10,000 To record changements value 100,000 investment income 80,000 Unreale sain on investments O Expenditures 0 OM Fund balance-cted Todose income and endures D