The City of Monroe Scholarship Foundation private-purpose trust fund had the following account balances on January 1, 2020:

	Debits			Credits
Cash	$	50,500
Accrued Interest Receivable		7,500
Investments in Corporate Bonds		750,000
Net position Held in Trust				$	808,000
Totals	$	808,000		$	808,000

Required: a. Record the following transactions in the general journal of the City of Monroe Community Foundation Trust Fund for the year ending December 31, 2020.

1. (1) On May 1, the first semiannual interest payment ($22,500) was received on the corporate bonds. The bonds pay 6 percent annual interest, semiannually on May 1 and November 1.
2. (2) During the first half of the year, additional contributions from individuals and foundations amounted to $211,000, in cash. From these funds, $200,000 were invested in RST Corporation stock on June 15.
3. (3) On November 1, the second semiannual interest payment ($22,500) was received from the investment in bonds.
4. (4) On November 15, a dividend was declared by RST Corporation in the amount of $2,000 and was received in cash.
5. (5) On December 1, RST Corporation stock was sold for $204,000 cash. Those funds were immediately invested in UVW Corporation stock.
6. (6) On December 15, cash scholarships in the amount of $51,000 were made to various college students.
7. (7) On December 31, an accrual was made for year-end interest on the corporate bonds.
8. (8) Also, on December 31, it was determined that the market value of the corporate bonds, exclusive of accrued interest, was $752,100 and that the market value of UVW Company stock was $199,000.

b. Post the entries to the Community Foundation Trust ledger (T-accounts). c. Prepare and post an entry closing all nominal accounts to Net position. 7C. Part 2. Pension Trust Fund Transactions The City of Monroe Police Department pension plan, a single-employer, defined-benefit plan, reported the following account balances as of January 1, 2020:

	Debits			Credits
Cash	$	152,000
Accrued Interest Receivable		75,000
Investments: Bonds		5,300,000
Investments: Common Stock		2,790,000
Accounts Payable				$	42,000
Net position Held in Trust for Employee Benefits					8,275,000
Totals	$	8,317,000		$	8,317,000

Required: a. Record the following transactions in the general journal of the City of Monroe Police Department Pension Trust Fund for the year ending December 31, 2020.

1. (1) Member contributions were received in the amount of $403,000. The City General Fund contributed the same amount.
2. (2) Interest was received in the amount of $212,000, including the accrued interest receivable at the beginning of the year. The interest accrual at year end amounted to $81,000.
3. (3) During the year, dividends received on common stock amounted to $125,000.
4. (4) Investments were made during the year in common stock in the amount of $650,000.
5. (5) Annuity benefits in the amount of $325,400, disability benefits of $79,900 and refunds to nonvested terminated employees of $40,600 were recorded as liabilities.
6. (6) Accounts payable, in the amount of $460,700, were paid in cash.
7. (7) During the year, common stock valued at $505,000 was sold for $506,800. A portion of these funds, $500,000 were invested in common stock of a different company.
8. (8) At year-end, the market value of investments in bonds increased by $7,750; the market value of investments in stocks decreased by $1,200.

b. Post the entries to the Police Department Pension Trust ledger (T-accounts). c. Prepare and post an entry closing all nominal accounts to Net position. 7C. Part 3. Fiduciary Fund Financial Statements Required: Using the balances from Parts 1 and 2 prepare the following:

1. Statement of Changes in Fiduciary Net position.
2. Statement of Fiduciary Net position.

I only need help 7-C part 2 and 3. Thank you in Advance.