Question 23 Not yet answered Marked out of 1.00 Flag question On January 1, 2020, Muscat City receives an OMR 140,000 donation from Mr. Yousuf, a resident of Muscat. The terms of the trust agreement specify that the city is to use about OMR70,000 each year for the next two years to help ease the cost of transporting physically handicapped children to and from the physical training center for the disabled. The Muscat city accepts the donation and, as allowed by the trust agreement invests OMR 70,000 in highly rated bonds. The trust fund has spend OMR 56,000 for providing transport services to physically handicapped children out of funds available. The remaining OMR 70,000 is deposited in a bank account that earns a 7.5% interest rate per annum. Considering the above case, the appropriate journal entry for providing transportation services shall be: Dr. Deductions Transportation benefits OMR 56,000 and Cr: Cash OMR 56,000 Dr. Additions - Transportation benefits OMR74,000 and Cr Cash OMR 74,000 Dr. Cash OMR 56,000 and Cr: Deductions - Transportation benefits OMR 56,000 Dr. Cash OMR 74,000 and Cr: Deductions - Transportation benefits OMR 74,000 Question 24