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On July 1, 2014% 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 6%, payable semiannually on April I and October 1 During the fiscal year ended June 30, 2015, the following transactions took place The gift was received On October 1, $48,000 in interest was received On April 1. $48,000 in interest was received 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 also carried a 6% annual interest rate, payable semiannually on April 1 and October 1 the bonds were purchased at par value On June 30. 2015 accrued interest on the ABC bonds was recognized On June 30, 2015. Awards were made in the amount of $60,000. As of June 30. 2015. The fair value of the fair value of the ABC bonds was $1, 664.000, exclusive of accrued interest Required Record the above transactions on the books of the City of Corfu Private-Purpose Fund Prepare a Statement of Changes in Fiduciary Net Position for the City of Corfu Private-Purpose Trust Fund for the year ended June 30, 2015