On July 1, 2019, the Morgan County School District received a $68,000 gift from a local civic organization with the stipulation that, on June 30 of each year, $5,300 plus any interest earnings on the unspent principal be awarded as a college scholarship to the high school graduate with the highest academic average. A private-purpose trust fund, the Civic Scholarship Fund, was created. 1. On July 1, 2019, the gift was received and immediately invested. 2. On June 30, 2020. $5,300 of the principal was converted into cash. In addition, $4,300 of interest was received. 3. On June 30, the $9,600 was awarded to a student who had maintained a 4.0 grade point average throughout each of her four years. 4. The nominal accounts were closed. Required: a. Record the above transactions on the books of the Civic Scholarship Fund. b. Prepare a Statement of Changes in Fiduciary Net Position for the Civic Scholarship Fund for the year ended June 30, 2020.