P 21-5 Preparation of trust fund statements On July 1, 2016, Duchy County receives a $500,000 contribution from the local chapter of Homeless No More. A trust agreement specifying that the income from the contribution be distributed each May 15 to the downtown homeless shelter accompanies the contribution. The principal amount is intended to remain intact indefinitely. The following transactions related to the contribution occur during the fiscal year: 1. On September 1, the county invests the contribution