The City of Laconia received a donation from the estate of thelate Kathy Smith to be used to support the City Public Library. Thegift consisted of $200000 cash and a portfolio of securities witha market value of $300000. The securities have a book value of$250000. The donor stipulated that the principal of the giftincluding investment gains (realized and unrealized) but excludinginvestment losses must be kept intact. The income must be used tocare for and maintain the book collection at the Smith PublicLibrary. All appropriate costs including investment losses may becharged against the revenues yearly to determine the amountavailable for the specified purposes. During the year the Cityengaged in the following transactions on behalf of the Library.Prepare the appropriate entries in the Citys permanent fund.