Business, 19.12.2019 05:31 shiannethorn

Anongovernmental not-for-profit college has a portfolio of bond investments that had an original cost of $2,000,000. the college's board of trustees voted to hold the principal of this fund intact in perpetuity and designated the earnings to reimburse faculty for travel to academic conferences. during the year, interest of $50,000 was earned in cash. the fair value of the bonds was $1,980,000.

what amount should the college report as permanently restricted net assets at year end?

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