On July 1, 2016, the City of Corfu received a gift of debt securities of XYZ Company with a nominal (par) value of $1,600,000. Income is to be used to make awards for civic achievements. As of the date of the gift, the securities had a market value of $1,668,000. Included in this amount is accrued interest of $18,000. The bonds carried an annual interest rate of 5%, payable semiannually on April 1 and October 1. During the fiscal year ended June 30, 2017, the following transactions took place:

1.	The gift was received.
2.	On October 1, $40,000 in interest was received.
3.	On April 1, $40,000 in interest was received.
4.	On April 1, immediately after the receipt of interest, the XYZ bonds were sold for $1,662,000. The proceeds were invested in ABC bonds, which pay interest semiannually on April 1 and October 1. The bonds were purchased at par value.
5.	On June 30, 2017, accrued interest of $ 20,775 on the ABC bonds was recognized.
6.	On June 30, 2017, awards were made in the amount of $75,000.
7.	As of June 30, 2017, the fair value of the fair value of the ABC bonds was $1,664,000, exclusive of accrued interest.

Required:

1. Record the above transactions on the books of the City of Corfu Private-Purpose Trust Fund.