Annabelle Benton, great-granddaughter of the founder of the Town of Benton, made a cash contribution in the amount of $500,000 to be held as an endowment. To account for this endowment, the town has created the Alex Benton Park Endowment Fund. Under terms of the agreement, the town must invest and conserve the principal amount of the contribution in perpetuity. Earnings, measured on the accrual basis, must be used to maintain Alex Benton Park in an “attractive manner.” All changes in fair value are treated as adjust-ments of fund balance of the permanent fund and do not affect earnings. Earnings are transferred periodically to the Alex Benton Park Maintenance Fund, a special revenue fund. Information pertaining to transactions of the endowment and special revenue funds for the fiscal year ended June 30, 2014, follows: The contribution of $500,000 was received and recorded on December 31, 2013. On December 31, 2013, bonds having a face value of $400,000 were purchased for $406,300, plus three months of accrued interest of $6,000. A certificate of deposit with a face and fair value of $70,000 was also purchased on this date. The bonds mature on October 1, 2022 (105 months from date of purchase), and pay interest of 6 percent per annum semiannually on April 1 and October 1. The certificate of deposit pays interest of 4 percent per annum payable on March 31, June 30, September 30, and December 31. On March 31, 2014, interest on the certificate of deposit was received by the endowment fund and transferred to the Alex Benton Park Maintenance Fund. The April 1, 2014, bond interest was received by the endowment fund and transferred to the Alex Benton Park Maintenance Fund. On June 30, 2014, interest on the certificate of deposit was received and transferred to the Alex Benton Park Maintenance Fund. On June 30, 2014, the market value of the bonds was $409,600. The value of the certificate of deposit was unchanged. Required Prepare in general journal form the entries required in the Alex Benton Park Endowment Fund to record the transactions occurring during the fiscal year ending June 30, 2014, including all appropriate adjusting and closing entries. (Note: Ignore related entries in the governmental activities journal at the government-wide level and the Park Maintenance Fund.) Prepare the following financial statements: (1) A balance sheet for the Alex Benton Park Endowment Fund as of June 30, 2014. (2) A statement of revenues, expenditures, and changes in fund balance for the Alex Benton Park Endowment Fund for the year ended June 30, 2014.