Quesson 7 Not yet answered Marked out of 1.00 Flag question On January 1, 2018 Muscat City receives an OMR 160,000 donations from a private company, that operates in Muscat. The terms of the trust agreement specify that the city is to use about OMR 80,000 each year for the next two years to help economically weaker sections to get food and medical support. Muscat city accepts the donation and, as allowed by the trust agreement, invests OMR 50,000 in highly rated bonds. The trust agreement also allows Muscat city to deduct OMR 1,500 for office expenses and managing the trust fund. At the end of the year, the fair value of the bonds increased to OMR 58,000. Considering the above case, the appropriate journal entry to record changes in the fair value of bonds held by trust fund shall be: 1 Dr. Investment in bonds OMR 58,000 and Cr. Additions- Investment revalued OMR 58,000 Dr: Cash OMR 58,000 and Cr. Additions- Interest OMR 58,000 Dr. Additions-investment revalued OMR 8,000 and Cr: Investment in bonds OMR 8,000 Dr: Investment in bonds OMR 8.000 and Cr: Additions- Investment revalued OMR 8,000 8